According to CoinMeta, some assets of FTX survived, and within a few weeks of the CLARITY bill failing to pass in the Senate, the largest financial institutions in the United States continued to carry out on-chain operations. JPMorgan Chase conducted a tokenization pilot for ETF held assets through its Depository Trust and Clearing Corporation (DTCC). More than 50 companies, including Blackstone and Goldman Sachs, have signed agreements to tokenize stocks and bonds through the same infrastructure. The CEO of Blackstone described tokenization as a way to "update the financial system's pipelines." The issues facing Congress are no longer just about cryptocurrencies, but rather broader financial stability concerns.