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Odaily reported that the proposed U.S. crypto market structure bill, the Clarity Act, may give rise to a new "Yield-as-a-Service" market in the crypto industry, and drive the sector from a passive "hold-to-earn" model toward an AI-powered, compliant yield infrastructure. The current debate centers around Article 404 of the bill, which aims to prohibit digital asset service providers (DASP) from offering returns solely because users hold a particular digital asset. Vollono believes this means the industry will shift from "Hold-to-Earn" to "Use-to-Earn," and that the future market will rely more on proactive and regulatory-compliant yield strategies. STBL Chief Business Officer Joe Vollono stated that the bill could boost the development of DeFi infrastructure, vault management, collateral management, automated fund management, on-chain lending, and rewards systems, with AI expected to become the key base layer for coordinating regulated capital flows. At this stage, the Clarity Act has passed review by the U.S. Senate Banking Committee and is expected to move to a full Senate review next, where it will be integrated with the Agriculture Committee's version. The market generally believes that this bill is likely to establish—for the first time—a comprehensive regulatory framework for the U.S. digital asset market, clarifying the regulatory boundaries between the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission regarding digital assets, and paving the way for large institutional capital to enter the crypto market. (CoinDesk)

STBL Chief Business Officer Joe Vollono stated that the proposed bill's restrictions on yield-generating crypto products may prompt the industry to shift from a passive “hold-to-earn” model to AI-driven compliant yield infrastructure. He believes that AI-powered financial management, lending, and staking tools could become the next layer of major infrastructure in the crypto industry.

According to ChainCatcher, citing Coinglass data, whales on the Hyperliquid platform currently hold positions totaling $4.375 billion. Long positions account for $2.151 billion, representing 49.17% of the total, while short positions account for $2.224 billion, representing 50.83%. The profit and loss for long positions is -$49.4113 million, and for short positions is -$5.5385 million.