CLARITY Act · US Congress · US Senate · CryptoSlate
The Senate Banking Committee advanced the legislation in May after the House approved an earlier version in 2025
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Hyperliquid sits at the front of the group because of the scale of its derivatives business.
Key facts
- PancakeSwap generated $322 million over the trailing 12 months, while its CAKE token had a circulating value of $425 million
- Jupiter, a Solana-based trading aggregator, recorded $130 million of revenue and a $716 million circulating market capitalization, equivalent to about 6 times revenue
- Raydium’s $46 million in revenue compared with a $158 million circulating market value, leaving the Solana exchange token at roughly 3 times revenue
- Lido Finance generated $77 million in trailing protocol revenue, while its LDO token had a circulating value of $216 million
Summary
01 Congress is advancing the CLARITY Act, which would set federal rules for crypto assets and the firms trading them. 02 Grayscale says clearer US rules could draw institutions onto public blockchains, boosting trading, lending, and tokenized-asset protocols. 03 The bill may lift valuations, but final details remain unsettled and token holders may not capture all protocol revenue. A group of crypto tokens tied to some of the industry’s largest revenue-generating applications could be positioned for a revaluation as Congress moves closer to establishing a federal rulebook for digital-asset markets. The Digital Asset Market Clarity Act, known as the CLARITY Act, would define regulatory responsibilities for crypto assets and the companies that trade them.