Centralized crypto exchanges play a huge part in the crypto trading ecosystem. However, the FTX collapse showcased how difficult it is to trust exchanges with user funds.
Despite this, crypto trading platforms continue to believe that they can win back the community’s trust. Speaking to Cointelegraph, executives from crypto exchanges OKX, Gate.io and Bitpanda shared their insights on how trading platforms can recover from the effects of the FTX debacle.
According to Dion Guillaume, an executive at Gate.io, transparency in terms of custody of user assets has become of vital importance.
Guillaume told Cointelegraph that this also motivated their platform to open source their proof-of-reserves method using Merkle Tree verification to be available for other industry leaders to use.Read more on cointelegraph.com