π΄ CLARITY's Senate Sprint
AI Summary
The CLARITY crypto market structure bill is nearing a Senate Banking Committee markup after Senators Tillis and Alsobrooks resolved the stablecoin yield dispute, banning interest-like payments but permitting activity-based rewards. Two remaining fights over developer protections (BRCA) and ethics language still threaten the bill's passage. Meanwhile, Morgan Stanley's E*Trade launched a crypto trading pilot undercutting Charles Schwab's fees.
Key Facts
Author Takes
CLARITY stablecoin yield compromise
Banks won the larger concession on stablecoin yield, but crypto appears at least willing to proceedβthe yield concession is the entry fee for broader protections including developer carve-outs, self-custody rights, and anti-CBDC language.
Crypto market performance
Crypto is up on the week but isn't keeping pace with gains in oil or tech stocks, which is disappointing given the broader market rally.
Michael Saylor potentially selling BTC
After famously advising acolytes to sell their kidneys before their BTC, Saylor's Strategy may go against his own advice to fund dividend obligations.
Related topics
More from Bankless
π΄ The Hyperliquid AI Stock Stack
Bankless covers Ondo's expansion of its bridge to move 35 tokenized stocks and ETFs onto HyperEVM via LayerZero, enabling DeFi strategies around AI ch
π§βπ The NFT Recovery
The Bankless newsletter reports that NFT markets are experiencing a significant recovery in May 2026, with major collections like Bored Apes (+60%), A
π΄ Crypto's Top Villain
Bankless covers North Korea's increasingly sophisticated crypto hacking operations and questions DeFi's ability to protect itself. The newsletter also