// Link · 22 May 2026

Crypto Treasuries Have a Discipline Problem

TLDR: DATs had a brutal 2025 while BTC dipped only 6%, exposing that their active-capital edge cut the wrong way. Under pressure, many have drifted from core discipline into distractions like jet-engine leasing, stablecoin launches, and celebrity/OpenAI bets - a failure signal, not innovation. Saylo...

Hacker Noon

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