Wu Shuo learned that Armani Ferrante, founder and CEO of the crypto trading platform Backpack, stated that the so-called “Neo Finance” has not truly improved the traditional financial system but has instead weakened the original safeguards. He pointed out that this type of model often manifests as: similar to stocks but without dividends, voting rights, or SIPC insurance; similar to banks but unable to directly receive payments, issue checks, pay wages, or transfer funds to other accounts; layered fee structures; lack of investor protection; and highly publicized user personal data. He believes this introduces more intermediaries and removes the most useful functions of traditional finance.