macro liquidity is overpricing weekend risk

Ignoring macro liquidity because lending markets looks exciting is how late-cycle mistakes compound.

Put beside current chatter on “THORChain Refused to Block the $387M Bitget Hacker. Here’s Why,” the incentive problem looks clearer.

The loudest story is not always the decisive one.

Historically, stretches where institutional desks leads without support from governance turnout invite sharper reversals.

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