CoW DAO has approved a plan to reimburse users harmed by the April 2026 cow.fi domain hijack, even though CoW Protocol's smart contracts were not breached. Eligible claimants can receive up to 100% of verified losses from the DAO's Legal Defense Reserve, with claims due by 14 May. The DAO says the payments are voluntary goodwill grants and do not admit liability.

Exodus said it launched XO Cash on 8 May, introducing a Solana-based stablecoin designed for AI agents and autonomous, machine-to-machine payments. The company said developers can spin up agent wallets with spending rules while users keep custody, and agents can pay without being given private keys. XO Cash also supports payment-time conversion into USDC or USDT and can enable agent-linked debit cards usable wherever Visa is accepted.

Coinbase said it will support the DAI-to-USDS migration, with an automated conversion scheduled between 4 May and 6 May 2026 at an approximate 1:1 ratio. The exchange will disable DAI trading on 4 May, pause deposits and withdrawals from 4–6 May, and convert eligible balances with no fees, while excluding users in certain EEA jurisdictions.

Polymarket is overhauling its exchange infrastructure and plans to introduce Polymarket USD, a platform-native token backed 1:1 by USDC. The rollout is expected over the next two to three weeks and includes CLOB v2, new smart contracts, and a collateral migration from USDC.e. The changes arrive as U.S. prediction markets see improving legal clarity around event-based contracts.

NovaBay Pharmaceuticals is shifting away from its legacy pharma operations and repositioning around crypto, including an on-chain treasury approach tied to token holdings and staking. The company said in a Form 8-K that it will adopt the name Stablecoin Development Corporation and start trading under the ticker SDEV on NYSE American on 3 April.

An on-chain report from ZachXBT alleges more than $420m in USDC-related compliance lapses tied to illicit flows since 2022. Shared on 3 April, it cites cases where funds were not frozen or were frozen only after delays, including activity linked to the $280m Drift Protocol exploit.

Canada's Department of Finance confirmed Bill C-15 has received Royal Assent, opening the door to a federal stablecoin regime overseen by the Bank of Canada. The plan would require fiat-backed issuers to register, hold 1:1 reserves, and offer par-value redemptions, while restricting yield and certain marketing. Authorities expect consultations over the next 12 to 18 months, with full rollout targeted for 2027.

Coinbase said it received conditional approval from the Office of the Comptroller of the Currency to form Coinbase National Trust Company under federal oversight. Announced on 2 April, the national trust charter is positioned as a custody and market-infrastructure vehicle rather than a commercial bank, with no deposits or lending.

Drift Protocol has suspended deposits and withdrawals after confirming an active attack and disclosing the incident on 1 April. Early on-chain estimates put potential losses near $285m, spanning assets such as $71.4m in USDC and $159.3m in JLP. The team said it is working with security firms, bridges, and exchanges, while the alleged exploit method remains unconfirmed.