Using the ChainOn browser, the more I look, the more it seems like using a magnifying glass to examine someone else's ledger... To be honest, the so-called "privacy" on public blockchains is inherently very limited; at most, it's just replacing names with addresses. Truly tracing back is just a matter of time and cost. The boundary of compliance is also quite realistic: if platforms require you to do KYC, don't expect to remain completely anonymous; once you reach fiat on-ramps and off-ramps, you're basically back in the rules of the real world.

Recently, there's been talk about interest rate cut expectations, the US dollar index, and the stronger correlation of risk assets rising and falling together, which means regulatory attention will also increase. Ordinary users might need to adjust their expectations: privacy tools can be used to "expose less," but shouldn't be treated as talismans; if you want to leave some boundaries, layer your funds, keep on-chain behavior as clean as possible, avoid interactions with unknown sources—ultimately, being able to sleep well is more important than anything else.