Lately, the more I look at the blockchain, the more I feel: don’t romanticize privacy too much. Frankly, just because you don’t put your name on your address doesn’t mean no one can trace it back; if they really want to comply and investigate, exchange deposits and withdrawals, browser tabs, or even your screenshots showing off are all clues. I think ordinary users should have two expectations: don’t be completely exposed in everyday activities, but also don’t expect to “disappear completely.”

Modular, DeFi layer narratives make developers excited, but I, who focus on liquidation lines, just want to ask: since all the data is out there, where exactly is the privacy layer? Forget it, to put it plainly, the blockchain is more like a glass house, compliance is like an access card, if you want to play, you have to accept the rules changing all the time. My approach is very simple: don’t over-leverage your positions, split your addresses, avoid leaving traces if possible, and the rest… just consider it tuition fees.