SEC Chairman: Future Focus on On-chain Financial Markets, Calls on Congress to Pass the "CLARITY Act"
May 9 — Securities and Exchange Commission (SEC) Chair Paul Atkins emphasized in a public speech that the SEC’s future focus will center on the on-chain financial market. The agency’s current regulatory framework struggles to fully adapt to protocols powered by automation and smart contracts.
Clear guidance will require rulemaking, including a reassessment of how terms like “trading platforms,” “broker-dealers operating on trading platforms,” and “clearing agencies” apply in on-chain contexts, plus securities and adviser law issues tied to “crypto custodians.”
Atkins also voiced support for a limited innovation exemption pathway and called on Congress to pass the Cryptocurrency Market Structure Clarity Act (CLARITY Act) to deliver long-term regulatory certainty via legislation. He warned that overregulation or uncertainty could push innovation overseas, adding the U.S. should lead the global market through understanding and adaptation.
On artificial intelligence (AI), Atkins n
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Cathie Wood: Market Often Underestimates the Power of Technological Innovation to Reshape the Macro Landscape, Inflation Could Surprisingly Taper
On May 9, Cathie Wood—widely known as "Wood Sister"—shared her market outlook, highlighting a key current signal: despite a sharp rise in oil prices over the past three months, the yield curve remains flat. This bucks the traditional economic cycle pattern, where an "energy shock monetized by the Fed" typically leads to a steeper curve. This time, however, the Fed hasn’t monetized the energy shock, and the bond market may be preemptively pricing in the powerful deflationary impact of AI.
Wood noted that the cost of training AI models has fallen sharply, with inference costs dropping even faster. Meanwhile, productivity growth is accelerating faster than official data indicates, and unit labor costs stay low. While the mainstream market narrative centers on tariffs, budget deficits, and persistent structural inflation, innovation-driven deflationary forces are gaining momentum. She projects inflation could cool unexpectedly over the next 6 to 9 months—a development that would have a
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A certain whale is hoarding 67,480 SOL and 6.2 million JUP, with a total value exceeding $7.7 million.
On May 9th, LookOnChain monitoring data shows that a 7-month dormant crypto address purchased 67,648 SOL and 6.2 million JUP tokens over the past 6 hours. The two purchases are valued at $6.23 million and $1.52 million, respectively.
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LayerZero Apologizes: Acknowledges DVN Single Validation as a Serious Mistake, Plans Multiple Security Upgrades
May 9: LayerZero Labs issued a belated apology for security incidents over the past three weeks, acknowledging insufficient communication and revealing its DVN’s internal RPC endpoint was compromised by North Korea-linked hacker group Lazarus—leading to data corruption—while an external RPC provider was targeted in a DDoS attack. The LayerZero core protocol itself remained unaffected, but the team admitted allowing its in-house DVN to operate in 1/1 single-validator mode for high-value transactions was a critical error. The incident impacted just one application, which represents 0.14% of the network’s total apps and 0.36% of its asset value.
LayerZero stressed its protocol is designed to eliminate single points of failure, enabling each app to independently manage end-to-end security without relying on LayerZero Labs—a key driver of the protocol’s widespread adoption by major asset issuers. Recommendations for developers: immediately update configurations, increase block confirmati
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U.S. Stocks Hit Record Highs Three Times This Week, Intel Leads Storage Chip Stocks in a Surging Rally, Crypto Market Sees Slight Recovery
**May 9th Market Update**
- **U.S. Equities (Bitget Data):**
U.S. stocks closed at another record high Friday. The S&P 500 and Nasdaq hit their third all-time highs this week. The U.S. chip index surged 5.5%, with Intel leading semiconductor gains: Intel jumped ~14% on a preliminary chip outsourcing deal with Apple. Other chip movers: Nvidia (+1.75%), AMD (+11.4%), Qualcomm (+8%).
**Crypto-related U.S. stocks:**
MicroStrategy (MSTR) +4.31%; Coinbase (COIN) +4.25%; Circle (CRCL) +0.37%; BitMine Immersion (BMNR) +0.77%.
**U.S. Storage Sector:**
Seagate (STX) +2.11%; Western Digital (WDC) +3.47%; SanDisk (SNDK) +16.6%; Micron (MU) +15.49%.
- **Crypto Market (HTX Data):**
Crypto markets saw a modest uptick. Bitcoin held steady at $80k; Ethereum currently at $2300; Solana (SOL) broke above $90. Total crypto market cap rose 0.9% in 24h to $2.76T.
**Top Altcoin Gainers:**
ONDO +30.6% → $0.459; SAHARA +22.4% → $0.031; CHIP +21.2% → $0.007; ICP +20.75% →
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Trump Plans to Launch "Freedom Plan 2.0" to Open the Hormuz Strait, White House Awaits Iran's Response to the Agreement Proposal
Local time May 8, U.S. President Donald Trump said at the White House the U.S. could restart the "Freedom Plan"—an effort to de-escalate tensions around stranded vessels in the Strait of Hormuz—and he expected Iran to respond that evening to the U.S.-proposed bilateral agreement.
Trump noted he saw the Freedom Plan as a solid concept but emphasized there were alternative ways to resolve the situation. If no progress is made, he added, the U.S. might roll out an **upgraded** version of the plan, which would include extra measures beyond the original framework.
Per monitoring by PolyBeats, the prediction market Polymarket currently puts the probability of the Strait of Hormuz remaining navigable by the end of this month at 28%.
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