What is Web3's "decentralized" finance? It is raising funds through promises of high returns, then using your money to gamble or manipulate the market. When profits are made, they give you a small share; when they lose money, they run away. It's less risky than P2P.

When the market is good, exchanges provide platforms, financial management project teams provide market manipulation funds, and KOLs provide liquidity for retail investors. Everyone benefits.

As for when the market is bad? Then it's mutual destruction. For example, after Trump came into office, he became the biggest scythe, and then 1011 happened.

So now, two months later, rights protection has begun again (though it’s all futile).

As for packaging it as DeFi or CeFi, it doesn't matter. There will be other concepts in the future. As long as familiar faces keep appearing at various events, everything remains the same—never truly good.

Researching the matter is too complicated; it's easier to study people.