open interest is testing conviction in weekend risk

In practice, institutional desks and governance turnout interact before price fully reflects either one.

Revisit assumptions weekly; markets change faster than slogans.

That debate sits next to today’s market focus around “Securitize, Ethena Open BUIDL Facility With $100M Capacity.”

In practice, bridge security and custody rails interact before price fully reflects either one.

Stay close to what users and balance sheets are actually doing.

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