“活跃国库”这个词误导了所有人。通过质押和代币追逐收益的数字资产国库成为运营商,而不是持有者,要求基金级治理或监管重新分类。
The term "Active Treasury" misleads everyone. Digital asset treasuries chasing yield via staking and tokens become operators, not holders, demanding fund-grade governance or regulatory reclassification.