The CLARITY bill, which was supposed to be a huge boost this week, suddenly backfired from its important supporter Coinbase. They believe that this bill has been repeatedly revised, becoming friendly to traditional banks and institutions, but extremely bad for native companies in the cryptocurrency industry. There are four main viewpoints: The latest version of the draft proposes to impose restrictions on the sources of income or rewards for stablecoin holders, such as annualized rewards for depositing USDC on exchanges. These stablecoin rewards can encourage more users to deposit on the exchange, and the exchange can also earn interest income. They believe that this restriction is more beneficial for traditional banks and less beneficial for crypto native companies. 3. The draft is also considered to significantly limit the issuance or trading of assets such as stock tokenization, making issuers bear more responsibility, and Coinbase is currently promoting everything on the chain, which they believe will increase a lot of actual costs. In the draft, some provisions are interpreted as expanding the US government's access to DeFi data or regulatory scope, which may undermine the freedom of entrepreneurs and mean that the government's power on the chain may be greater.