Jerome Powell will stay on the Fed's board after his term ends and the Clarity Act gets its clearest path to a Senate vote yet.

The Fed held right steady for the fourth straight meeting, but the bigger headline came at Powell's press conference.

He confirmed he's staying on as Fed governor after his term ends in May, saying legal

pressure from the Trump administration left him with no choice. His replacement, Kevin Warsh,

cleared a Senate Banking Committee vote on Wednesday. Senator Tom Tillis told reporters that the

Stable Coin Yield fight with banking lobbyists has been largely resolved. He said he's encouraging

the committee chair to move forward with a

markup possibly as soon as mid-May. With about 11 weeks left on the Senate calendar, any further delay

risks killing the bill this cycle. And Wasabi protocol was drained of $4.55 million after attackers

compromised its deployer key. The hackers granted themselves full privileges

and swapped in malicious vault code in a single transaction.

The cumulative defy loss total for 2026

has now passed $770 million across more than 30 reported incidents.

Get more updates on coin desk.com.