Crypto News. May 4, 2026
CLARITY Act stablecoin yield rules finalized; possible markup week of May 11, Senate floor June/July, Trump’s desk this summer, passive interest banned but activity-based rewards preserved
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Lawyers for victims of three North Korean terrorism judgments, Gerstein Harrow LLP on behalf of Han Kim and Yong Seok Kim, have disrupted Arbitrum DAO’s plan to compensate victims of the $292M Kelp DAO exploit, issuing a restraining notice blocking movement of of the 30,766 ETH (~$71.1M) frozen by the Arbitrum Security Council.
Brazil’s central bank banned crypto and stablecoin settlement in cross-border payments via its regulated eFX channel, effective October 1
Trump announced Project Freedom, a U.S. Navy escort operation to guide neutral foreign ships through the Strait of Hormuz starting Monday
Iran confirmed receiving a formal US response to its 14-point nuclear proposal via Pakistan and said it is under review
Michael Saylor confirmed no Bitcoin buys this week, with earnings due Tuesday
Argentina’s National Securities Commission expanded tokenization rules to cover more asset classes and removed listing requirements
NYSE filed a proposed rule change with the SEC to allow tokenized equities and ETFs to trade on-exchange under DTC’s three-year tokenization pilot, with T+1 clearing maintained through DTC
Sonic Labs allocated $1M to buy back S tokens on Binance, with the first campaign now live
Hedge funds posted their largest two-week reduction in US tech exposure in a decade, led by semiconductor long sales, with Magnificent 7 stocks sold in four of the last five sessions
Peter Thiel’s Founders Fund closed a $6B fund — its largest ever — with ~$4.5B from LPs including sovereign wealth funds and $1.5B from Thiel and the team
Post-Glamsterdam, Ethereum’s gas limit will rise from 60M to ~200M, a 3x+ increase in L1 execution capacity, with fees expected to remain near zero for years assuming demand stays flat
Galaxy Digital research head Alex Thorn says emerging Bitcoin consensus holds that Satoshi’s P2PK coins should not be touched, noting the ~22,000 separate 50 BTC addresses lower the realistic quantum attack risk
BlackRock urged the OCC to scrap a proposed 20% cap on tokenized reserve assets in its GENIUS Act comment letter, and asked the agency to confirm Treasury ETFs qualify as eligible reserves
China invoked its 2021 Blocking Statute for the first time, ordering all Chinese firms to defy US sanctions on five domestic oil refineries accused of buying Iranian crude
Evernorth, the Ripple-backed XRP treasury company, named OpenAI Foundation CFO Robert Kaiden and Antalpha COO Derar Islim as independent directors ahead of its Nasdaq listing under ticker XRPN
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