basis trades is fragmenting treasury policy

A simple checklist—basis trades, stablecoin minting, and inventory—beats improvising under stress.

Put beside current chatter on “Canton Coin Rises After SEC Classifies It as a Digital Commodity,” the incentive problem looks clearer.

Better questions beat louder opinions when regimes shift.

A simple checklist—options skew, spot ETFs, and inventory—beats improvising under stress.

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