Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
Latest activity
Earn Money
Review Website/Apps
Passive Income
Money apps
Paid Survey
Stock
Forex
Real estate
Paid to write
Social Media Monetization
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Personal loan
Retirement
Debt help
Savings for Students
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Cryptocurrency Forums
Post FTX impact on cryptocurrency exchanges
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="Raymondblue, post: 326102, member: 103234"] No doubt the impact of FTX crash has created a negative impression among crypto enthusiasts especially centralized exchange users. Of course FTX wasn't the first CEX to crash but its occurrence came as a shock looking at the position the crypto exchange occupies in terms of ranking and being the favourite cex for derivative trading before the sad event. This has questioned the integrity of CEXs and a lot of users have embraced DEX while others opt for a more secure and transparent CEX. Talking about security and transparency as a mechanism to make users have complete trust in the remaining CEXs, two things comes to mind and that's "Proof of Reserve" and "User Protection Fund". This are obviously a good indicator and post FTX development but how effective could this be looking at the numerous crypto currency exchanges out there. Among the top 10 ranking CEXs, only Binance and Bitget has a veriable proof of users protection fund of $1B and $300M respectively. " Source from Nansen" Although some exchanges like OKX, Huobi and Bybit also claimed to have user protection funds but it is not publicly verifiable which of course raises eye brow about the integrity and transparency of such claim. We can't actually do without CEX because we need it for our daily trading hence the reasons why more effective measures needs to be taken to secure users funds. Though Binance and Bitget seems to be on the right path but it's also important for this CEX to declare their Proof of Liabilities because FTX also did about two audits before it collapsed. A lot of users are still skeptical keeping their assets on CEX due to fear of the unknown but could this development from Binance and Bitget restore trust and confidence back to users? [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Cryptocurrency Forums
Post FTX impact on cryptocurrency exchanges
Top