CLARITY Act deliberation live broadcast: The U.S. Senate rejected Warren’s amendment involving the disclosure of Epstein’s records, and multiple amendments continue to advance.
Deliberation on the “Crypto-Currency Market Structure Act” (i.e., the CLARITY Act) has begun in the U.S. Senate Banking Committee, and several amendments proposed by Elizabeth Warren have been rejected. Among them, an amendment aimed at deleting Sections 401 to 403 of the bill and restricting banks’ participation in digital asset business failed to pass with 11 votes in favor and 13 votes against.
Another more controversial amendment would have required federal banking regulators to disclose bank regulatory information related to Epstein. Warren said in a statement that Epstein was an early supporter of Coinbase and that cryptocurrencies may be used to conceal illegal payment activities. The amendment aimed to reveal whether banking regulators and related banks were already aware of Epstein’s behavior. Ultimately, the amendment was also rejected with 11 votes in favor and 13 votes against.
[Odaily]
Circle Stock Explodes As Long-Stalled Clarity Act Passes Senate Vote
Circle (CRCL) stock suddenly turned positive on Thursday, recording higher highs after the digital asset market Clarity Act passed the Senate Banking Committee with bipartisan support.
U.S. Senate Banking Committee Begins Review of the CLARITY Act, Warren Calls the Bill Seriously Flawed and Proposes Five Defects
The U.S. Senate Committee on Banking, Housing, and Urban Affairs has initiated the deliberation process for the CLARITY Act. Senator Tim Scott (R-SC), Chairman of the Senate Banking Committee, stated that the bill aims to achieve three goals: protecting consumers, keeping innovation within the United States, and safeguarding national security—and called it a bipartisan effort.
Senator Elizabeth Warren (D-MA), the committee’s top Democrat, strongly opposed the bill. She asserted that the legislation was entirely drafted by the crypto industry and that the committee had never held any public hearings on it. Warren also noted that the Chairman rejected over a dozen amendments on procedural grounds—including an amendment proposed by the National Sheriff’s Association to close money laundering loopholes on decentralized platforms, and another to prevent deposits from fleeing community banks.
Warren outlined five specific flaws in the bill:
1. Weakening investor protections under securities laws established since 1929;
2. Eliminating state-level consumer anti-fraud safeguards;
3. Allowing banks to hold high-risk assets—repeating the mistakes that led to the 2008 financial crisis;
4. Containing national security vulnerabilities (she cited a recent U.S. Treasury Department warning that Iran is using crypto businesses to move funds); and
5. Failing to address conflicts of interest related to the Trump family’s crypto interests. According to her, the Trump family has so far benefited from crypto-related transactions by approximately $1.4 billion. Warren further criticized Republicans for having pledged last year—while pushing the GENIUS Act—to fix these issues in the CLARITY Act, yet none have been addressed to date.
[Foresight News]
Dune cuts 25% of its workforce this week due to AI-driven efficiency improvements, focusing on core data products
PANews May 15th, Fredrik Haga, co-founder and CEO of blockchain data platform Dune, stated on X that the company laid off approximately 25% of its employees this week, restructuring to focus on core data products relied upon by thousands of crypto industry clients.
Haga stated that with the company’s significant investment in AI tools, teams and agents can build dashboards and processes without mastering SQL and data infrastructure through Dune MCP, and AI has become a core function of its data suite.
Haga emphasized that Dune is currently in good financial condition and completed a $69.42 million Series B financing led by Coatue in 2022.
[PANews]
Kraken to Replace LayerZero with Chainlink CCIP as Cross-Chain Infrastructure
On May 14, Kraken announced it will adopt Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to replace LayerZero as its exclusive cross-chain infrastructure for wrapped assets, including kBTC and future wrapped assets.
This migration involves over $3 billion in total value locked (TVL), following a $292 million LayerZero-related cross-chain attack on Kelp in April. Kraken stated the migration will cover networks such as Ink, Ethereum, Unichain, and Optimism.
kBTC was launched in 2024 and currently has a market capitalization of approximately $260 million.
[PANews]
Cerebras Systems (CBRS) opened at $350 on its first day on the Nasdaq, above its IPO offering price of $185.
According to msx data, Cerebras Systems (stock code: CBRS) shares opened at $350 on their first day of trading on the Nasdaq, which is higher than the IPO offering price of $185.
[Odaily Planet Daily News]
Coinbase launches the BTC-INR trading pair for Indian users
On May 14, Coinbase announced that it has added support for the BTC-INR trading pair for Indian users.
BTC-INR will first be listed on Coinbase Exchange and will gradually be expanded to Coinbase.com, the Coinbase App, and Coinbase Advanced.
[PANews]
Dune cuts 25% of its workforce, citing AI-driven efficiency improvements
Cryptocurrency data company Dune co-founder and CEO Fredrik Haga announced that Dune will lay off a quarter of its staff.
He stated, “With Dune MCP, teams and agents can now build dashboards and workflows without knowing anything about SQL or data infrastructure (and related billing).” He noted that artificial intelligence has become a core feature of the Dune data suite.
Fredrik Haga said, “We are restructuring Dune to focus more on the core data products that thousands of customers in the cryptocurrency industry rely on.”
[Foresight News]
Aave updates its bug bounty program; Core Aave V3 and other modules will have separate bug bounty programs.
Aave announced that its bug bounty program has been updated to better align rewards with the risk profile of each component within the ecosystem and to streamline the review process.
The reward cap for critical vulnerability fixes in Aave V4 and Core Aave V3 has now been increased fivefold.
[Foresight News]
CLARITY Act Review Live Stream: Ethics Clause Amendment Rejected, Senate Conflict Erupts Over Interests
The Cryptocurrency Market Structure Act (also known as the CLARITY Act) has commenced deliberation at the U.S. Senate Committee on Banking, Housing, and Urban Affairs, where a heated clash erupted over a key amendment concerning ethical constraints on senior government officials. Proposed by Senator Chris Van Hollen, this amendment seeks to prohibit high-level government officials—including the President and Vice President—from holding commercial interests in the cryptocurrency industry and strengthens transparency requirements. In his remarks, Van Hollen stated that the provision aims to prevent conflicts of interest and self-dealing, and referenced former President Trump and his family’s ties to World Liberty Financial.
Senator Bernie Moreno opposed the amendment, arguing that its inclusion of criminal penalties places it “outside the jurisdiction of the Banking Committee” and makes it more appropriate for consideration by the Judiciary Committee. He also criticized Van Hollen’s use of the term “corruption,” calling it inappropriate to make criminal allegations against individuals without evidence. Ultimately, the amendment failed to pass, with 11 votes in favor and 13 against.
[Odaily]
The U.S. President is considering issuing 250 pardons, and defendants in the crypto space are seeking clemency.
The White House in the United States is considering issuing 250 presidential pardons to mark the 250th anniversary of the founding of the nation, and is currently weighing whether to announce the plan on June 14 or July 4.
Several defendants in the crypto space are seeking executive clemency, including Sam Bankman-Fried and Roger Ver. U.S. presidents have cumulatively issued over 1,600 pardons and commutations during their second terms. Previously, Ross Ulbricht, the founders of BitMEX, and Binance founder Changpeng Zhao have been pardoned.
The White House said it currently has no plans to pardon Sam Bankman-Fried.
[financefeeds]
Binance Launches Gensyn (AIGENSYN) Financial Services, Buy Crypto, Margin Trading, and Lending
According to the official announcement, Binance will list Gensyn (AIGENSYN) on Simple Earn (Flexible Products), Buy Crypto, Instant Exchange, Margin Trading, and VIP Lending at 17:00 UTC on May 14, 2026.
Specifically, Buy Crypto, Instant Exchange, and VIP Lending for AIGENSYN will be available within one hour after its spot listing. Additionally, full-margin and cross-margin leveraged trading pairs AIGENSYN/USDT and AIGENSYN/USDC will be added.
[Odaily]
US Department of Justice Charges Three Tennessee Men in Cryptocurrency Armed Robbery
According to the U.S. Department of Justice, a federal grand jury indicted three men from Tennessee, Elijah Armstrong, Nino Chindavanh, and Jayden Rucker, on charges of conspiring to commit violent robberies against cryptocurrency holders in San Francisco, San Jose, Sunnyvale, and Los Angeles. In one case, the victim was coerced at gunpoint to transfer approximately $6.50 million in crypto assets.
The three defendants are all from Tennessee, between the ages of 21 and 25. At the time of the incidents, they disguised themselves as delivery drivers to enter the victims’ homes and used guns, tape, and zip ties to bind the victims in order to obtain account information. The three were arrested in Los Angeles and Sunnyvale in December 2025 and are currently in federal custody. If convicted, each count of conspiracy to kidnap carries a maximum sentence of life in prison.
[Foresight News]
Aptos becomes the first L1 to support formal verification of dynamic scheduling
Aptos posted on the X platform that Aptos is the first L1 to support dynamic scheduling formal verification, which can mathematically prove that it operates as designed.
Aptos claims that AI writes specifications, mathematically proves their correctness, and Move Prover is the oracle, which is the trust layer between the market and the machine.
[Odaily Planet Daily]
Binance Futures will list the BTCUSD1 USD-Margined Perpetual Contract.
Binance Futures will launch the BTCUSD1 perpetual contract at 17:00 on May 18, with a maximum leverage of up to 100x.
This contract will support the multi-asset mode, allowing users to trade using BTC as margin.
[ChainCatcher]
CLARITY Act Hearing Live Stream: AI Regulatory Sandbox Amendment Passed; Amendment to Block High-Risk Assets from Retirement Accounts Rejected
The “Cryptocurrency Market Structure Act” (i.e., the CLARITY Act) has begun deliberation in the U.S. Senate Banking Committee. As of now:
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Senator Mike Rounds’ amendment on AI regulatory sandbox was passed with 15 votes in favor and 9 votes against, showing that it has received some bipartisan support, although Elizabeth Warren had called on Democratic lawmakers to vote against it;
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Elizabeth Warren’s amendment aimed at “preventing high-risk assets from entering retirement accounts” was rejected with 11 votes in favor and 13 votes against;
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Senator Katie Britt from Alabama previously proposed an amendment to allow some retirement accounts to invest in collective investment vehicles, but it was withdrawn before the vote.
It is reported that one of the most controversial amendments currently comes from Elizabeth Warren, involving strengthening the authority to sanction crypto mixers. In her speech, she mentioned the mixer protocol Tornado Cash, which was sanctioned by the United States, saying that it had been used to launder more than $7.00B for criminal organizations and North Korean hacker groups, including more than $450.00M in related funds.
Warren said that the current bill does not give the U.S. Treasury Department sufficient legal authority to isolate or restrict mixer services, which may lead to loopholes in anti-money laundering supervision. In response, Cynthia Lummis retorted that the second and third parts of the bill already cover illegal financial activities.
[Odaily星球日报]
Today’s Market Pulse
The crypto market is navigating a pivotal regulatory inflection point as the CLARITY Act advances through Congress, while exchanges and protocols reposition themselves amid evolving compliance landscapes and technological efficiencies.
Key Themes
Regulatory Crossroads: The CLARITY Act is advancing through the Senate Banking Committee despite fierce opposition from Senator Elizabeth Warren. Multiple of her amendments were rejected (Epstein disclosure ethics clause, blocking high-risk assets from retirement accounts), while others like the AI regulatory sandbox passed. Warren’s five-point critique—highlighting weakened investor protections, eliminated state safeguards, risky bank asset holdings, national security vulnerabilities, and conflicts of interest—suggests ongoing regulatory friction regardless of the bill’s eventual passage.
Exchange Strategy Shifts: Exchanges are adapting to regulatory pressures while expanding services. Kraken replaced LayerZero with Chainlink CCIP following a $292 million security incident, demonstrating risk mitigation priorities. Coinbase expanded into Indian markets with BTC-INR trading pairs, while Binance launched Gensyn (AIGENSYN) financial services and a new BTCUSD1 perpetual contract with 100x leverage, indicating continued innovation despite regulatory uncertainty.
Industry Restructuring: The sector is optimizing operations through technology and specialization. Dune cut 25% of its workforce due to AI-driven efficiency gains, focusing on core data products that thousands of crypto clients rely on. Meanwhile, Aave enhanced its bug bounty program with fivefold increased reward caps for critical vulnerabilities, and Aptos became the first L1 to support formal verification of dynamic scheduling, emphasizing security and mathematical proof.
Legal Environment: The legal landscape remains complex with both opportunities and risks. The White House is considering 250 pardons, with crypto defendants like Sam Bankman-Fried seeking clemency. Meanwhile, the DOJ indicted three Tennessee men for cryptocurrency armed robberies, highlighting persistent physical security risks in the digital asset space.
RichSilo Verdict
Sophisticated investors should monitor the final CLARITY Act language for its impact on market structure, particularly regarding asset classification and bank participation, as this will likely drive institutional adoption patterns. Watch Circle‘s performance as a potential bellwether for regulated crypto financials, while tracking LayerZero‘s recovery following Kraken’s security-driven migration. The Dune layoffs signal broader industry efficiency trends where AI integration may reduce operational headcount while creating new value propositions. Regulatory clarity post-CLARITY Act could unlock institutional flows, but persistent opposition from figures like Warren suggests a protracted implementation period with potential amendments.
