According to @jchervinsky, Citadel’s letter characterizing everyone in crypto as an intermediary appears designed to establish standing to sue once the SEC adopts its long-promised innovation exemption, highlighting a legal strategy that could follow the rule’s release (source: @jchervinsky). He states that traditional finance is poised to run the 2023 crypto policy playbook, implying imminent legal challenges and policy confrontation around the SEC’s innovation exemption (source: @jchervinsky). For traders, this flags near-term regulatory headline risk and timing volatility around the SEC’s innovation exemption adoption and any subsequent litigation by TradFi firms, making policy calendars and court filings critical catalysts to monitor (source: @jchervinsky).

According to @Andre_Dragosch, a key advantage of TradFi is that 5-day trading hours act as built-in risk management by preventing panic selling during off-hours such as 2 a.m. on Saturday (source: André Dragosch on X, Oct 11, 2025). According to Coinbase Help Center, crypto spot markets for assets like BTC and ETH operate 24/7, meaning there is no weekend market closure to enforce a cooling-off period (source: Coinbase Help Center).

According to @MilkRoadDaily, the primary advantage in cryptocurrency trading comes from analyzing public on-chain data, which contrasts sharply with traditional finance (TradFi) where an edge is gained through private data and insider access. The source states that traders who can effectively track fund flows, follow the movements of 'smart money' wallets, and interpret real-time on-chain data can position themselves ahead of 99% of the market.