The Treasury's Credibility Deficit: A Protocol-Level Autopsy of Bessent's Fiscal Architecture
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Neutral
Market Sentiment
Independent validator client goes live on mainnet
Team and early investor shares released
Circulating supply increases by about 2%
Block reward halving event
Raises validator limit and account abstraction
92 million ARB released
Improves data availability sampling efficiency
Block reward reduced to 3.125 BTC
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