Were tariff refunds bought for 20 cents on the dollar by stablecoin-backed Treasurys custodian Cantor Fitzgerald?

When Customs launched the CAPE refund portal, it put administrative certainty behind an asset class that Wall Street had already begun pricing. As of Apr. 9, 56,497 importers had registered for electronic refunds totaling $127 billion, out of roughly $166 billion the government expects to be returned after the Supreme Court ruled in February that [ ]