custody rails is consolidating around hedging demand

Risk is easiest to ignore precisely when it is most expensive.

Better questions beat louder opinions when regimes shift.

Put beside current chatter on “Strategy Made $19.5 Billion in Profit. So Why Is MSCI Removing It From Stock Indexes?,” the incentive problem looks clearer.

Liquidity still decides how far any catalyst can travel.

Builders and treasuries should track stablecoins even when social feeds obsess over dollar strength.

Builders and treasuries should track custody rails even when social feeds obsess over miner behavior.

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