JPMorgan has filed with the U.S. SEC for a blockchain-enabled, tokenized money market fund aimed at stablecoin issuers preparing for a regulated U.S. market under the proposed GENIUS Act. The filing dated 12 May names the product JPMorgan OnChain Liquidity-Token Money Market Fund (ticker: JLTXX), with Ethereum as the first supported network and a $1 million minimum investment.

A U.S. federal court authorized an onchain Arbitrum DAO vote to transfer 30,765.6675 ETH tied to the rsETH exploit recovery from an immobilization address into an Aave LLC-controlled wallet. The ETH remains subject to a restraining notice, preventing Aave LLC from using or distributing the funds unless a court later permits it.

Circle paired the release of its Arc blockchain whitepaper with quarterly earnings disclosures that detailed a $222 million ARC token presale valuing the network at a $3 billion fully diluted valuation. The company framed Arc as infrastructure for payments, tokenized assets, and AI-agent finance, while noting that its earnings guidance does not yet include potential future Arc revenue streams.

Sen. Bernie Moreno said large U.S. banks are pressuring lawmakers ahead of a Senate Banking Committee markup scheduled for Thursday. The dispute followed an American Bankers Association letter warning the proposal could push deposits into payment stablecoins and allow interest-like rewards, prompting pushback from crypto advocates.

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.

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.

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.