Solv Protocol has transferred $700 million worth of Bitcoin tokens off the LayerZero bridge and onto Chainlink’s Cross-Chain Interoperability Protocol (CCIP), citing security reviews and a recent wave of cross-chain attacks. Kelp DAO has taken a similar step after a $292 million attack tied to its LayerZero bridge. LayerZero and Kelp have traded blame over the bridge’s single-validator configuration. Together, the moves by Solv and Kelp have shifted close to $1 billion in assets to Chainlink CCIP.

ME News reported that on May 7 (UTC+8), an Iranian Foreign Ministry spokesperson told local media that Tehran has not finalized its position on a U.S. proposal and has not responded to Washington. People familiar with the matter said a classified U.S. Central Intelligence Agency (CIA) assessment completed this week found Iran could withstand a U.S. maritime blockade for at least three to four months before facing sharper economic strain. The assessment also said Iran continues to retain significant ballistic missile capability despite weeks of heavy U.S. and Israeli strikes. A U.S. official said Iran still has about 75% of its prewar inventory of mobile launchers and roughly 70% of its missile stockpile. The official added that indications suggest the Iranian leadership has restored and reactivated nearly all underground storage facilities, repaired some damaged missiles, and assembled new missiles that were close to completion when hostilities began. Sources said Iran's ability to absorb prolonged economic pressure may exceed the CIA's estimate. One source said Iran's leadership has become more radicalized and resolute, increasingly believing it can wear down U.S. political will while suppressing domestic dissent through internal repression, noting that regimes can endure for years under extended sanctions and an air-only campaign. The source added that Iran is storing some oil on tankers that would otherwise sit idle under the blockade, while cutting oilfield output to protect reservoir integrity. U.S. officials said that if Iran can move oil via overland smuggling routes, the CIA may have understated Iran's economic resilience. (Jinshi) (Source: ODaily)

May 7 (UTC+8) — A New York Fed survey showed U.S. consumers' long-term inflation expectations remained steady in April, even as the Iran conflict added fresh price pressures. Inflation expectations for the next 12 months edged up slightly. Expectations for inflation three years and five years ahead were unchanged from March, indicating households largely see the conflict-related price shock as temporary. The survey also pointed to rising labor-market anxiety. Respondents assigned a 44% probability that unemployment will increase over the next 12 months, the highest reading in a year. (Source: ChainCatcher)

ChainCatcher cited Coinglass data showing $62.84 million in liquidations across the crypto market over the past hour. Long positions accounted for $59.6 million, while shorts totaled $3.24 million. By asset, ETH liquidations reached $29.6 million and BTC liquidations came in at $23.64 million.

Solv Protocol has transferred more than $700 million worth of SolvBTC and xSolvBTC from the LayerZero cross-chain bridge to Chainlink's Cross-Chain Interoperability Protocol (CCIP), according to market sources cited by Huoxing Finance. The project has also ended LayerZero support on networks including Corn, Berachain, Rootstock, and TAC. Solv said the decision follows its latest security review and heightened concerns after recent cross-chain attacks, positioning CCIP as its standard cross-chain infrastructure. The move comes after Kelp DAO shifted to Chainlink as well, following a $292 million rsETH attack on its LayerZero-based bridge.

Solv Protocol said it has migrated more than $700 million in SolvBTC and xSolvBTC from the LayerZero cross-chain bridge to Chainlink's Cross-Chain Interoperability Protocol (CCIP), citing recent security reviews and a spate of cross-chain attacks. As part of the change, Solv will discontinue LayerZero support on several networks, including Corn, Berachain, Rootstock, and TAC. The protocol said it will adopt CCIP as its standard cross-chain infrastructure. The move comes after Kelp DAO switched to Chainlink following a $292 million rsETH attack tied to its LayerZero-based bridge, according to market sources.

ChainCatcher reported that Lookonchain data showed U.S. Bitcoin ETFs recorded a net inflow of 261 BTC. Ethereum ETFs logged net inflows of 663 ETH, while Solana ETFs saw net inflows of 240,595 SOL.

May 7 update on ETF net flows: #Bitcoin ETFs 1D net flow: +261 BTC (+$20.92M) 7D net flow: +20,802 BTC (+$1.67B) #Ethereum ETFs 1D net flow: +663 ETH (+$1.52M) 7D net flow: +83,082 ETH (+$190.59M) #Solana ETFs 1D net flow: +240,595 SOL (+$21.17M) 7D net flow: +292,371 SOL (+$25.73M)