The U.S. Senate is set to vote on May 11 on whether to initiate a cloture procedure for Kevin Warsh's nomination as the 17th Chair of the Federal Reserve. This procedural vote will determine the timeline for a final confirmation vote, with current Chair Powell's term expiring on May 15. In the crypto sector, Avalanche (AVAX) will unlock 1.67 million tokens on May 12, valued at approximately $16.5 million. Additionally, Base's first independent network upgrade, "Base Azul," will go live on May 13, aiming to enhance security and performance. Meanwhile, the U.S. Senate Banking Committee will hold a hearing on the CLARITY Act on May 14, addressing stablecoin yield issues.