Renegade.fi said a whitehat hacker returned about $190,000 after exploiting its Arbitrum-based V1 decentralized dark pool. The protocol said Blockaid flagged a $209,000 exploit at 8:27 am UTC and that 27 ERC-20 tokens were taken before most funds were sent back within 45 minutes, including $84,370 in USDC, $27,885 in wrapped Bitcoin and $23,950 in wrapped Ether.

Bank of England Governor Andrew Bailey said on Friday that global stablecoin rules will require international standards and could involve a policy "wrestle" with the US. He warned that some stablecoins may be hard to convert to cash without crypto exchanges, raising concerns if US dollar tokens are widely used in cross-border payments. The stablecoin market is valued at more than $317 billion, and is largely dominated by US dollar-pegged tokens.

Renegade Fi suffered an exploit on Arbitrum after an attacker abused an unprotected initializer in its Dark Pool proxy contract to obtain privileged delegatecall access. The attacker drained nearly 27 ERC-20 tokens, including WBTC, PENDLE, LDO, CRV, RDNT, and SYNTHR, with losses estimated at roughly $209,000. The incident also prompted calls to revoke approvals and pause integrations to reduce exposure across connected proxy deployments.

The US Senate Banking Committee is set to hold a markup hearing on May 14 to amend and vote on sweeping cryptocurrency legislation, potentially advancing a first comprehensive federal framework for digital assets. The effort regained traction after lawmakers reached a compromise on stablecoin rewards, though Democrats say ethics provisions and other safeguards remain unresolved.

LayerZero has faced sustained pressure since an April exploit tied to a cross-chain bridge used by Kelp, where $293 million was drained and the wider DeFi gap topped $300 million. After the incident, protocols totaling $2 billion in combined TVL—including KelpDAO ($1.5B), SolvProtocol ($600M), and Re ($200M)—migrated to Chainlink CCIP, while LayerZero bridge volume fell to $91 million.

Grayscale Investments said the CLARITY Act could reshape U.S. crypto regulation by moving oversight away from enforcement-driven actions toward clearer market-structure rules. In research comments dated May 7, Zach Pandl argued the bill would separate "investment contracts" from "digital commodities," assigning the SEC and CFTC different roles, as the Senate Banking Committee prepared a May 14 session on H.R.3633. Grayscale also cited a petition with more than 28,000 signatures and noted Polymarket odds that put the bill's 2026 passage chance at 67%.

Hyperliquid, Pump.fun, and EdgeX distributed about $96.3 million to token holders over the past 30 days. The payouts highlight a market tilt toward protocols that generate measurable revenue and return cash flow to users instead of relying on hype or usage metrics.

A Harrisx national survey released May 7 found 52% of voters supported the Digital Asset Market Clarity (CLARITY) Act of 2025 after reading a neutral policy summary, while 11% opposed it. The poll also showed 70% believe the United States should have already enacted clear cryptocurrency legislation, and 60% prefer federal legislation over case-by-case enforcement. Harrisx surveyed 2,008 registered voters May 1–4, 2026, with a 2.2-point margin of error.