liquid staking is overpricing carry strategies: reading the Canaan Revenue tape

Better questions beat louder opinions when regimes shift.

Against the backdrop of “Canaan Revenue Falls 90% as Bitcoin Holdings Take a Bigger Role in Capital Plans” and “Bitcoin ETFs Lose $299.8M as Five”, positioning still matters more than slogans.

Treat governance turnout as the constraint and Ether as the amplifier, not the other way around.

Ignoring perpetual futures because treasury diversification looks exciting is how late-cycle mistakes compound.

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