After Bitcoin enters the DeFi world, the process becomes more complex: deposit, staking and locking, cross-chain bridging, multi-signature custody, and then asset exchange transactions. The seemingly complete ecological closed loop, but in reality? When losing money, it’s directly wiped out; when making money, it’s withdrawn from the multi-signature address—this mode is essentially a centralized casino-like scene, completely contrary to the decentralized spirit of true DeFi. As long as this pseudo-DeFi continues to control fund flows in a centralized manner, it will never gain recognition from the mainstream market. Trust issues remain unresolved; no matter how beautiful the narrative, it’s just a castle in the air.