The U.S. Senate Banking Committee will hold a May 14 executive session to mark up H.R.3633, the Digital Asset Market Clarity Act of 2025, with the proceeding scheduled for 10:30 a.m. The session will consider amendments and decide whether the bill advances toward a full Senate vote. Supporters say the proposal aims to clarify SEC and CFTC roles and set registration, disclosure, and operational requirements for digital asset market participants.

LayerZero Labs said on 8 May it mishandled communication after April’s rsETH incident and acknowledged its 1/1 DVN setup for high-value apps introduced risks it did not anticipate. The company also stated its internal RPC infrastructure used by the LayerZero Labs DVN was compromised during the attack and said 1/1 DVN is no longer supported, with defaults moving toward 5/5 or at least 3/3 verification. Following the roughly $292 million rsETH exploit, KelpDAO, Solv Protocol (over $700 million) and Re Protocol (more than $475 million TVL) announced migrations to Chainlink CCIP.

Three DeFi protocols overseeing close to $1 billion in assets have moved, or are in the process of moving, cross-chain operations from LayerZero to Chainlink CCIP. Solv Protocol said it is migrating about $700M in tokenized bitcoin (SolvBTC and xSolvBTC) across Corn, Berachain, Rootstock, and TAC, while Re chose CCIP as the exclusive bridge for reUSD with over $160M market cap. The changes follow an April 18, 2026 exploit that drained about 116,500 rsETH valued near $292M from a LayerZero-powered bridge used by KelpDAO.

On 8 May, SEC Chair Paul Atkins said the agency may re-examine how core securities rules apply to blockchain-based trading systems as onchain finance evolves. He highlighted that some protocols bundle trading, collateral management, liquidity routing, settlement, and automated yield strategies in a single application, which does not fit neatly into existing regulatory categories. Atkins also pointed to possible updates around exchange definitions, clearing models, and “limited innovation pathways” for blockchain infrastructure.

Volodymyr Nosov, founder and president of WhiteBIT Group, argues that central bank digital currencies (CBDCs) are becoming a key link between traditional finance and Web3. He notes that BIS data shows over 91% of central banks have moved from theory to practical research, with more than 130 countries representing 98% of global GDP involved and about one-third running pilots. Nosov says the next three years may bring scaled pilots and local retail launches, while longer-term adoption will hinge on privacy design, cybersecurity, and integration with existing banking systems.

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.

At Consensus Miami on Thursday, OpenSea CMO Adam Hollander said the company is expanding beyond its NFT-marketplace image by building a single non-custodial app that supports NFTs, major tokens, meme coins and perpetuals across 26 chains. He said OpenSea rebuilt its stack about a year ago under OS2 and is preparing OpenSea Mobile with Apple Pay onboarding, citing over 1 million wallets in a recent rewards program and about 600 beta testers in one-on-one sessions.