Crypto Morning Brief May 12 | ️ Fed Leadership Change: The Warsh Era Begins | OpenAI Launches Daybreak for Cybersecurity | ⚔️ Trump Threatens Military Action Again Today's Key Highlights: • Fed Power Transition: Kevin Warsh has cleared procedural hurdles and could be confirmed as early as Tuesday. The Powell era officially ends this Friday, with global liquidity expectations facing a potential reset. • AI Infrastructure Leap: OpenAI has launched the cybersecurity platform Daybreak, integrating GPT-5.5 and the Codex framework. This marks a shift from AI being just a chat tool to becoming an automated "defense agent." • Geopolitical Black Swan: Trump has hardened his military stance on Iran and Cuba, escalating tensions in the Strait of Hormuz. Risk-off sentiment could pressure leveraged positions at any moment. • Institutional Buying Spree: Despite market volatility, crypto funds saw a net inflow of $858 million last week, with Bitcoin taking the lion's share. This highlights a stark divide between whales and retail investors at current price levels.