DeFi
Senate banking committee releases clarity act draft
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The Senate Banking Committee released updated text for the CLARITY Act on May 12 ahead of a scheduled May 14 markup. The draft sets rules for digital assets, stablecoins, and decentralized finance while leaving ethics provisions unresolved.
Galaxy, led by Mike Novogratz, and Sharplink have launched a $125 million private fund that will invest staked Ether in decentralized finance strategies. The move comes as institutions increasingly seek yield from their Ethereum holdings. Sharplink also reported a large quarterly loss.
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Solv Protocol is shifting more than $700 million in tokenized Bitcoin from LayerZero to Chainlink's CCIP. The move follows Kelp DAO's similar decision after a major exploit.
Onchain investigator ZachXBT announced an upcoming probe into insider trading at a major crypto business, prompting selloffs in several high-revenue tokens. Tokens like MET, HYPE, and PUMP dropped as traders speculated on the targets. A prediction market quickly gained traction betting on which company would be exposed.
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Figure's Home Equity Line of Credit token, known as Figure Heloc, has surged to become the tenth-largest cryptocurrency by market size, exceeding $15 billion. However, the token faces criticism for its limited onchain activity and liquidity. Supporters defend it as a legitimate real-world asset on the blockchain.
A recent analysis argues that decentralized finance (DeFi) has failed to fulfill its promise of banking the unbanked by merely building on top of existing traditional finance infrastructure. Instead of creating new financial rails, DeFi relies on banks, regulators, and centralized systems for its core operations. This dependency limits its accessibility to those already excluded from the system.
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The U.S. Senate Banking Committee is set to mark up the Digital Asset Market Clarity Act of 2025 on January 15, 2026, aiming to establish a federal framework for digital assets. The bill would divide regulatory oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Controversy surrounds provisions related to decentralized finance, with advocacy groups launching ads to oppose them.
Drift Protocol unveils recovery plan after $295 million hack
May 03, 2026 12:06Figure achieves $1 billion in monthly loan originations
May 02, 2026 16:31$292 million Kelp DAO exploit exposes DeFi vulnerabilities
May 01, 2026 01:14North Korean hackers steal $6 billion in crypto since 2017
April 30, 2026 20:47THORWallet partners with Unblock for global non-custodial Mastercard access
February 09, 2026 05:02McHenry predicts swift passage of crypto market structure bill
January 30, 2026 18:57Citi sees momentum for CLARITY Act but warns of delays
January 26, 2026 13:50Delay in U.S. crypto bill caps sector valuations, analyst says
January 19, 2026 06:11a16z crypto urges defi to adopt 'spec is law' for security
January 16, 2026 08:45Senate judiciary leaders challenge crypto bill's jurisdiction