CEXs will continue to remain relevant and wield outsized influence as the key entry point into the asset class, DBS Digital Exchange CEO Lionel Lim writes, especially as it grows in sophistication and institutional adoption. An opinion:
This month marks one year since the Terra-Luna fallout and six months since the implosion of FTX. These spectacular events, which marked the beginning and culmination of several other collapses respectively, severely shook confidence in cryptocurrencies and arguably triggered the industry’s most daunting existential crisis in its 15-year history.
into decentralized exchanges following FTX’s collapse, as well as positive reactions towards Ethereum’s proof-of-stake transition and Shapella upgrade.Yet, despite these developments, centralized digital asset exchanges will continue to remain relevant and wield outsized influence as the key entry point into the asset class, especially as it grows in sophistication and institutional adoption. After all, they remain the dominant platform when it comes to digital asset transactions.
Investors who actively manage their portfolios may also wish to rebalance their asset allocations frequently between traditional assets and digital assets. The fiat on-off ramps in CEXes thus forms a critical infrastructure layer to do so quickly, which is especially important during periods of market volatility.
, investors will find value in working with CEXes that provide dedicated hotlines or account managers.While CEXes are likely here to stay, one area where such platforms must improve on is the segregation of customer and corporate assets. Now, more than ever, scrutiny around this is mounting. Largely in response to the co-mingling of funds by FTX, a practice which led to many retail investors incurring significant losses when the exchange unraveled, policymakers like U.S.
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