#TradFi晒单 TradFi's core foundation is regulation and credit-backed bailouts, which are also its greatest constraints. In the stock market, T+2 settlement, banks closing on public holidays, and high transfer fees for cross-border remittances all cause significant losses in capital efficiency due to an outdated clearing system. Compared with DeFi's around-the-clock, second-level settlement, the institutional redundancy of traditional finance continues to expose its weaknesses in the digital era. However, complete compensation mechanisms and legal protections remain the key reasons conservative capital is unwilling to leave. Cross-market allocation must not pursue efficiency alone while ignoring risk-control bottom lines.