Pull out this month’s ledger and take a look: BTC is up 2%, but in reality over 400k USDT was spent—everything went into funding compliance audits for vesting and negotiating MM agreements for three new projects. You think the project team is making money, but actually they’re paying to keep market makers and lawyers on the payroll. In a bull market, the most reliable business isn’t pumping the price—it’s collecting service fees from the project team.