⚡ CLARITY ACT HEADING TO PRESIDENT’S DESK – CRYPTO MARKET WEAKENS, DEFI HACKS CONTINUE 📉⚖️ Regulatory Update: Senator Tim Scott stated the CLARITY Act could be presented to the US President this summer, aiming to enhance financial transparency and tighten crypto regulations. Market Performance: Bitcoin fell 0.61% this week, Ethereum dropped 1.35%, with total crypto market cap retreating to $2.57 trillion amid cautious sentiment. DeFi Hacks Surge: April recorded 26 attacks with total losses exceeding $630 million. Recent victims include Purrlend, Wasabi Protocol, and Volo. Ecosystem Response: KelpDAO is coordinating with Aave, Mantle, ConsenSys, Arbitrum, EtherFi, and Lido Finance to restore rsETH collateral and contain contagion risks. While the CLARITY Act may bring much-needed regulatory clarity in the long term, it is likely to create short-term pressure on the market due to tightening concerns. Meanwhile, the persistent wave of DeFi hacks highlights ongoing security vulnerabilities as a major industry pain point. Crypto remains in a delicate balance between regulatory hope and real-world risks. $BTC $ETH $XRP #DailyOrbit #CreatorRewards #OKXOrbitTopics