Coinbase cbBTC's $5B Supply Joins CCIP as LayerZero Exodus Tops $4B

The mass migration from LayerZero to Chainlink CCIP reached its largest milestone May 15 when Coinbase's cbBTC — carrying over $5 billion in circulating supply — deployed to the Tempo Layer-1 via CCIP, capping a 48-hour industry realignment. The exodus began May 14 when Kraken announced migrating its $266M kBTC exclusively to CCIP, followed May 15 by Lombard Finance shifting $1B+ in Bitcoin-backed assets (LBTC at $816M and BTC.b) away from LayerZero. Total assets migrating to CCIP now estimated at roughly $4 billion across protocols including Solv ($700M) and Re ($475M), all catalyzed by April's $292M Kelp DAO exploit which exposed LayerZero's single-verifier vulnerability affecting 47% of its applications. LINK traded near $10.31 (+0.89%).