THORChain said on 15 May it automatically detected abnormal activity and halted signing, pausing churn after one of its Asgard vaults was compromised. The exploit drained roughly $10.7 million to $10.8 million, with the protocol saying early signs indicate user funds were not directly impacted and losses were limited to protocol-owned funds. Separate commentary from Ledger CTO Charles Guillemet suggested the incident may relate to MPC/TSS signing infrastructure, though the root cause has not been confirmed.

The Senate Banking Committee moved the CLARITY Act forward during a markup session on 14 May, approving an amended version of the bill by a 15–9 vote. Lawmakers debated proposed changes touching ethics standards, DeFi-related oversight, and anti-money laundering language, with several ethics-focused amendments failing. The measure is not yet approved by the full Senate and must still clear additional procedural steps before it can become law.

CME Group said on 14 May it plans to introduce Nasdaq CME Crypto Index futures on 8 June, pending regulatory approval, offering both micro and larger contract sizes. The market-cap-weighted, multi-asset contract will be cash-settled and aims to provide diversified crypto exposure or broad hedging through a single regulated instrument.

Circle said in a paper published on 13 May that stablecoin-based, continuous blockchain settlement could replace parts of legacy batch-processing payment and settlement systems. The paper argues delayed clearing windows create liquidity lags and added reconciliation costs, and cites figures on excess working capital and daily FX settlement risk. Circle also highlighted its Circle Payments Network (CPN) as compliance-ready infrastructure intended to connect banks, payment providers, and enterprises.

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.