institutional desks continues to pressure treasury policy

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

Most blow-ups start as comfortable consensus.

Put beside current chatter on “Ledger SDK Sends Signing Metadata by Default,” the incentive problem looks clearer.

Most blow-ups start as comfortable consensus.

The gap between institutional desks and governance turnout is where false confidence usually builds.

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