加密货币多空：GENIUS法案的担保并不覆盖DeFi借贷

1. 核心事实剥离

• 事件本质：Ajna认为，GENIUS Act为完全储备稳定币提供的制度保证，并未消除DeFi借贷中贷款条款可被治理机制修改、预言机失真等风险；真正可交易变量是机构是否因此提高对DeFi借贷的风险溢价要求。〔SRC:"Institutions weighing DeFi lending tend to ask which markets are safest. Mike Hathaway and Joseph Quintilian of Ajna argue the better question is who can change a loan’s t