Crypto Regulatory Crossroads: CLARITY Act Advances (2026-05-15)

Bullish reported a net loss of $605 million for the first quarter, with an adjusted net profit of $20.3 million.

PANews reported on May 15 that crypto exchange Bullish released its Q1 financial report, showing a net loss of $604.90 million USD for the quarter, nearly double that of the same period last year, mainly due to non-cash items such as changes in the fair value of digital asset holdings.

Adjusted revenue was $92.80 million USD, higher than the $62.40 million USD in the same period last year; adjusted net profit was $20.30 million USD, higher than the $2.10 million USD in the same period last year; adjusted EBITDA was $35.10 million USD, higher than the $13.20 million USD in the same period last year. Adjusted trading revenue fell from $42.00 million USD in the same period last year to $38.00 million USD.

Bullish stated that it has consolidated its position as the second-largest Bitcoin options exchange, with a total options trading volume of $11.60 billion USD.

[The Block]

CLARITY Act Passed

The CLARITY Act has been passed by the Senate Banking Committee.

[Odaily Planet Daily News]

Bitwise Hyperliquid ETF will be listed on the NYSE this Friday

The Bitwise Hyperliquid ETF will begin trading on the New York Stock Exchange this Friday under the ticker symbol BHYP. Previously, 21Shares’ Hyperliquid ETF (THYP) went live this Tuesday, with a first-day trading volume of approximately $1.80M.

BHYP will be the first fund in the United States to offer Hyperliquid staking rewards, with related staking operations being completed through Bitwise’s Bitwise Onchain Solutions. 21Shares has also stated that it plans to stake most of its HYPE holdings.

Hyperliquid is currently a leading on-chain perpetual contract exchange and is gradually expanding into tokenized commodities and spot crypto trading. Its native token, HYPE, is used for platform fee payments and has long been among the top 15 crypto assets by trading volume.

[Odaily]

The Bitwise Hyperliquid ETF will begin trading on the New York Stock Exchange this Friday.

May 15th news, the Bitwise Hyperliquid ETF will begin trading on the New York Stock Exchange on Friday under the ticker symbol BHYP. The fund will be the first in the US to offer Hyperliquid staking rewards, achieved through the company’s internal staking division, Bitwise Onchain Solutions. BHYP has a management fee of 0.34%, with the first $500.00M in assets exempt from management fees for the first month.

Bitwise CIO Matt Hougan said that Hyperliquid has become one of the most attractive investment opportunities in the crypto space. In February, when traditional markets were closed due to geopolitical tensions, global traders turned to Hyperliquid for price discovery, with Bloomberg citing its crude oil contracts as the most relevant market price.

[PANews/The Block]

Whale Garrett Jin bought approximately 71,000 BNB, worth $48.22M.

May 15th news, according to Onchain Lens monitoring, early this morning, Garrett Jin, the agent of “1011 insider whale”, bought 71,066 BNB from Binance, worth $48.22M.

In the past two weeks, Garrett has deposited 577,896.0000 ETH ($1.35B) into Binance.

[PANews]

Senator Warren cited Tornado Cash as an example to question the inadequacy of anti-money laundering tools during the hearing.

Crypto In America reporter Eleanor Terrett posted on the X platform that Tornado Cash was the focus of the day’s hearing, with lawmakers debating whether the bill gives law enforcement enough tools to combat money laundering.

Senator Warren told Kennedy, “This is the Tornado problem…you remember Tornado, that mixer? What is Tornado for? If you are a terrorist, you put money in it!” Republican lawmakers believe the Clarity Act provides tools to address this issue, while Warren said the bill is not strong enough.

Other Democrats joined her in voting to include the amendment. The amendment did not pass.

[Odaily]

All three amendments proposed by U.S. Senator Warren were rejected during the vote on the CLARITY Act amendment.

The U.S. Senate Banking Committee is reviewing and voting on amendments to the CLARITY Act, with all three amendments proposed by Warren being rejected, with a vote of 11 to 13, along party lines.

Among the three amendments: Warren Amendment No. 74 requires investment advisors to establish special investor protection procedures before recommending crypto assets to clients; Amendment No. 64 aims to restore the Treasury Department’s legal authority to impose sanctions on decentralized mixing platforms in response to the court ruling that Tornado Cash requires explicit authorization from Congress before sanctions can be imposed; Amendment No. 52 requires the removal of provisions in the bill that would allow banks to directly hold and trade crypto assets and repeal provisions related to the Volcker Rule of the Dodd-Frank Act.

Currently, the committee passed an amendment on adopting an artificial intelligence tool sandbox mechanism with 15 votes in favor and 9 votes against. The amendment was proposed by Republican Senator Mike Rounds (South Dakota). In addition, an amendment proposed by Alabama Senator Katie Britt allowing certain retirement accounts to invest in collective investment vehicles was withdrawn before the vote.

[Foresight News]

AaveLabs: Updated bug bounty program, Core Aave V3 offers a maximum reward of $5.00M

AaveLabs has proposed restructuring the Aave DAO bug bounty framework into multiple specific subsystem programs, running on the Immunefi, Sherlock, and Cantina platforms, respectively. Core Aave V3, Core Aave V2, GHO, and non-liquid protocol infrastructure are covered by Immunefi, Aave V4 and Aave App Stack are covered by Sherlock, and Aave V3 on Aptos is covered by Cantina.

The proposal suggests adjusting the bounty size of each system, with the highest reward for critical vulnerabilities in Core Aave V3 being $5.00M and the highest reward for critical vulnerabilities in Aave V4 being $2.50M. In addition, the funding party for the Aave V3 bug bounty on Aptos will be transferred from Aave Labs to Aave DAO. The ARFC proposal has now been passed.

[Odaily]

Korean Won stablecoin KRW1 to be launched on Aptos

Aptos announced on the X platform that the world’s first Korean Won-pegged stablecoin KRW1 will be launched on Aptos.

BDACS Korea will deploy KRW1 on Aptos, which is the first time the stablecoin has been launched on a non-EVM chain, and will support applications such as payment, remittance, and RWA tokenization.

[Odaily]

JPMorgan: If on-chain activity remains insufficient, ETH and altcoins may continue underperforming Bitcoin.

JPMorgan analysts stated that despite the overall recovery of the crypto market following the Iran conflict, Ethereum and other altcoins continue to underperform Bitcoin. This trend, which has been in place since 2023, may be difficult to reverse in the short term unless there is a clear improvement in on-chain activity, DeFi, and real-world applications.

The report notes that, based on spot ETF fund flows and institutional futures positions, Bitcoin’s recovery has been stronger than Ethereum’s. Spot Bitcoin ETFs have recovered approximately two-thirds of the prior outflows, whereas spot Ethereum ETFs have recovered only about one-third.

Meanwhile, CME futures data shows that institutional investors are more actively rebuilding their Bitcoin exposure: Bitcoin futures positions have nearly fully recovered, while Ethereum futures positions remain below previous levels. JPMorgan believes that without stronger on-chain fundamentals and real-world use cases, ETH and altcoins’ relative weakness versus Bitcoin may persist.

[The Block]

Democratic Representative Alsobrooks: The committee’s vote in favor does not mean it will support the CLARITY Act in the full chamber vote.

Following the passage of the CLARITY Act by a vote of 15 to 9 in the U.S. Senate Banking Committee, Democratic Senator Alsobrooks (Maryland), who voted in favor, immediately issued a statement clarifying that her vote in favor today was “an expression of continuing to advance negotiations in good faith,” and not a commitment to vote in favor during a full Senate vote.

Alsobrooks stated that before it goes to a full vote, the bill still needs to address three core issues: law enforcement concerns about regulatory loopholes for financial crimes, ethics provisions applicable to all elected officials (including the President and Vice President), and merger negotiations with the Senate Agriculture Committee version.

[Foresight News]

The CLARITY Act review lasted approximately 2 hours, with all 12 Democratic amendments rejected amid intense procedural disputes.

The U.S. Senate Banking Committee’s review of the “Digital Asset Market Structure Act” (CLARITY Act) has been underway for approximately 2 hours, with over 16 amendment votes completed. On the passing side, the committee verbally passed the chairman’s draft, passed Rounds’ proposed AI financial sandbox amendment by a vote of 15 to 9, and passed McCormick’s proposed portfolio margin amendment by a vote of 18 to 6; the latest was Lummis Amendment No. 122, which passed by a vote of 18 to 6, clarifying the criteria for determining “nominal decentralization” of DeFi protocols, with Democratic senators such as Warner and Alsobrooks voting in favor.

On the rejected side, all 12 Democratic amendments proposed by Warren (five), Reed (two), Van Hollen (two), and Cortez Masto, Smith, and Kim (one each) were rejected along party lines by a vote of 11 to 13. In addition, a total of 4 amendments from Britt, Warner, Warnock, and Gallego were withdrawn before the vote.

Procedural disputes also arose during the review. Scott, citing bipartisan consultation, re-released the Lummis series of amendments that had previously been rejected on the grounds of “drafting errors,” which was strongly opposed by Warren and Van Hollen. Warren demanded that the Cortez Masto #16 supported by law enforcement agencies and the community bank deposit protection amendment be released equally, but Scott refused on the grounds of promoting bipartisan consensus.

In terms of the final bill’s voting position, Warren and Warnock have made it clear that they will vote against it; Gallego said that he would vote in favor at the committee stage, but warned that if the ethical issues are not resolved, he may change his vote to against it when the Senate votes as a whole; Warner voted in favor of Lummis #122, and his attitude is clearly inclined to support. The final bill vote is expected to take place within hours.

[Foresight News]

CertiK CEO: AI is turning DeFi attack and defense into an “unfair game”

Ronghui Gu, Co-Founder and CEO of CertiK, stated that AI tools are exacerbating the imbalance between offense and defense in DeFi security, making it easier for attackers to identify vulnerabilities and replicate attack paths across different protocols.

He pointed out that DeFi security conditions were especially severe in April this year—only three days passed without a hacker attack that month, and cumulative losses across DeFi protocols exceeded $690 million. Excluding the Bybit hack in February 2025, April has become the month with the highest DeFi hacker losses since March 2022.

Gu Ronghui believes attackers can concentrate substantial computing power to repeatedly test a single protocol, whereas security firms must serve multiple clients simultaneously, leading to fragmented resources—and thus defenders are inherently at a disadvantage. Meanwhile, recent attack focus is also shifting from smart contract vulnerabilities toward operational security and supply-chain weak points.

He emphasized that even if AI fails to detect vulnerabilities over an extended period, this does not prove the code is entirely secure; under current technological conditions, formal verification remains a more reliable security assurance method.

[Odaily]

CLARITY Act deliberation live stream: Several White House and Treasury Department officials appear to listen in

The review of the “Crypto-Currency Market and Transparency Act” (i.e., the CLARITY Act) has begun in the U.S. Senate Banking Committee.

According to the live broadcast, multiple officials from the White House and the Treasury Department were found to be present at the hearing, including White House advisors Patrick Witt and Harry Jung, Treasury Department advisor Tyler Williams, and Alex Sternhell, among others.

[Odaily]

The CLARITY Act has been passed by the US Senate Committee and is about to undergo final review by Congress.

May 15th news, the U.S. Senate Banking Committee passed the CLARITY Act with a 15-9 bipartisan vote, and the bill will advance to the next stage of the process. Democratic Senators Ruben Gallego and Angela Alsobrooks joined all Republicans in voting in favor. Committee Chairman Tim Scott secured Democratic support at the last minute by allowing previously rejected amendments.

The bill will now be merged with the version previously passed by the House Agriculture Committee, and then submitted to the full Senate for a vote, and finally to the House for a vote.

The final passage of the bill still depends on further negotiations on preventing crypto and DeFi technologies from being used for financial crimes, as well as ethical clauses restricting government officials from participating in the crypto industry.

[PANews]

Multicoin Capital疑似止损出售15万枚AAVE，约合1491万美元

On May 15, according to on-chain analyst Yu Jin’s monitoring, Multicoin Capital is suspected of stop-lossing AAVE. Multicoin Capital accumulated 338,000 AAVE at a price of $219 in November last year.

One hour ago, it transferred 150,000 AAVE (worth $14.91 million) into Galaxy Digital and BitGo; subsequently, these AAVE tokens were dispersed from Galaxy Digital and BitGo into centralized exchanges such as Binance, OKX, Coinbase, and Bybit—indicating a likely sale.

Assuming acquisition at $219 and sale at $99, its loss on AAVE is expected to exceed $40.56 million (-55%).

[PANews]

Strive launches the “Daily Dividend” strategy, and its stock price surged by 7% at one point.

Strive Inc., a Bitcoin reserve company founded by Vivek Ramaswamy, saw its stock surge up to 7% on Thursday. The company announced that its preferred stock, SATA, will pay cash dividends daily starting June 16, with a current annualized dividend yield of 13%.

Strive CEO Matthew Cole stated that SATA will become the first publicly traded security in U.S. capital markets history to pay cash dividends “every business day.”

Meanwhile, Strive disclosed that it has repaid all its debt and currently holds no short-term or long-term outstanding debt, nor any pledged Bitcoin. The company also said it has completed its acquisition of another Bitcoin reserve company, Semler Scientific, increasing its Bitcoin holdings to over 15,000 BTC.

[The Block]

Gemini’s Q1 revenue grew by 42%, and its after-hours stock price surged by up to 30%.

Crypto exchange Gemini released its Q1 financial report, with revenue reaching $50.30 million, a 42% increase compared to $35.30 million in the same period last year, driving its stock price to rise 30% in after-hours trading.

The company stated that the growth mainly came from service business, OTC transactions, and crypto-related credit card businesses such as the Gemini Credit Card. Among them, the credit card sector’s revenue increased by approximately 300% year-on-year, already approaching half of the total revenue.

Gemini also disclosed its prediction market business data for the first time. Since its launch in December last year, the business has attracted over 20,000 users to trade contracts, with a cumulative trading volume of over 100 million contracts, contributing approximately $400,000. The company stated that trading volume in April further increased by 78% compared to the previous month.

Gemini CEO Tyler Winklevoss stated that the company is gradually transforming from a crypto trading platform to a broader “market company.” Previously, Gemini had obtained a CFTC derivatives clearing organization license, providing support for its expansion into derivatives and prediction market businesses.

[Odaily]