What happened in crypto today: New Fed chair pick, DeFi cracks, and more

Kevin Warsh’s supportive comments as President Trump’s Fed chair nominee helped lift Bitcoin, which rallied to about $78,000 (the highest since February). At the same time, a $292 million KelpDAO exploit and ensuing DeFi contagion knocked confidence across decentralized finance — triggering roughly $15 billion of outflows from Aave and prompting Jefferies to warn that tokenization and Wall Street adoption plans could be paused. Separately, the U.K. Treasury proposed a unified regulatory framework to integrate traditional payments with stablecoins and tokenized deposits, aiming to bolster fintech competitiveness. Overall, the market saw a bullish price reaction for Bitcoin amid mixed sentiment driven by regulatory progress but heightened DeFi security risk.