Bitcoin Forum

As questions swirl about how much cryptocurrencies will be worth in the wake of the spectacular collapse of the crypto exchange FTX and other major platforms, a key question has emerged: Who will keep your crypto safe?

In response, some in the crypto community are calling for a return to its decentralized roots.

Among the rallying cries of this latent movement: “Not your keys, not your coins.”

In other words: Trust only yourself.

But doing so requires individuals to maintain their own cryptocurrency wallets through a more complicated — if safer — process that involves generating complex passwords and sometimes buying physical hardware to keep track of crypto, as opposed to entrusting it to an exchange.

"A company like FTX was supposed to hold your assets, but they ended up lending them out," Tracy Wang, deputy managing editor at the crypto news site CoinDesk, told NBC News.

That concept is what undergirds the traditional monetary system and seems to go against the fundamental philosophy of cryptocurrency.

"This is like taking power back and being in charge of your own money," Wang said of decentralization.

So does that mean that Utopia P2P (https://u.is) had chosen the right way from the very beginning, being based on its own decentralized blockchain and having own Crypton privacy coin? As for the 5 years of existence it didn't face any data leakage or scamming scandal. Or what else would you offer to pay attention to?

FTX's case has been triggering so many things to happen with crypto and here's some things that already happened.

- People are losing trust over cex
- Triggering government to crypto by giving more strict regulation

People already forced to go back again to the decentralization but in don't even think utopia can take the advantage from this incident that already happened with crypto. It seems like that if decentralized thing like GMX and MVX may take the advantage over the collapse from FTX.
It can be seen from the TVL that owned by these decentralized futures trade were also increasing a lot since people were moving away their money from cex out to their wallet caused by the trust issue with cex.

People had already reacted to what happened, Trezor reports 300% revenue increase after FTX fiasco (https://bitcointalk.org/index.php?topic=5422016). This is a good result after a catastrophic warning. It's for the best before the exchanges which act like banks freeze your assets.

Some revolutionaries like Snowden also said 'I told you so' which he emphasized that crypto is heading in the wrong direction when people are storing coins on a centralized/3rd party.

Utopia P2P has to prove more.

I have always said that decentralization is with the blockchain and not how you use the coin. I mean bitocin itself cannot be centralized, but what you do with it can be. This time maybe we ought to change that too? I mean not saying that it would be better or worse, but it does look like it is going to end up with something that is hurting the market at this moment if we keep this up.

So, it is better to move to Decentralized Exchanges for trading for example, or any other p2p method for fiat needs. Because at the end of the day it is not looking like we are talking about something that is profitable in the long run if we keep using centralized companies.

Well in principle you should't keep your coins in cex, and if you are tech-savvy enough, obviously self custody is the best solution. And everytone should try to learn it if they haven't yet.
But i wouldn't recommend self custody to my mom for example who barely understands how to work with a different browser. I am pretty sure that he would lose the private key and the backup if she used cold wallet. And if she used desktop wallet i couldn't guarantee she wouldn't get hacked at some point.

There’s a lot of hacking incidents with exchanges already even before the collapse of FTX so by that time people should already know where to put their crypto, and as advised before storing money on any exchanges are not advisable. This is just a repeat of those incidents and again, another reminder not to hold any crypto for long term in exchanges. The report of big profit with Trezor is a good indication that many already learn their lesson, just choose the best hard wallet and decentralized exchange, you can be more secured there.

without further comment:

https://atomicdex.io/en/desktop/ (https://atomicdex.io/en/desktop/)

...

well, you have a good point on this matter. it depends on the person who is holding the funds. not many people are trusting their capability of holding their keys, this is why some people still store their funds in CEXs. but for those regular crypto users/traders, we need to remind ourselves not to store funds in CEXs for long time. better secure it in our own wallets.

What do people NOT understand?  Exchanges are just that..exchanges.  they are not meant to be banks or personal wallets.  You are trusting someone else with your keys that is an irreversible transaction away from wiping you out.  I honestly don't get it, why would you keep your money on some 3rd party non insured site?  Even if it's "reputable", we all see how that has gone.  People just need to continue to learn the hard way.

What is actually more complicated about having a hardware wallet for example compared to maintaining an account in a centralized exchange?

Don't mention about passwords. That's not even complicated. But even if it is indeed complicated to some, we all do that. It is not something that is unique or an additional exclusive feature by hardware wallets. Even centralized exchanges have passwords.

In reality, centralized exchanges are way more complicated than hardware wallets. You need to fill out forms to open an account, verify the email, submit KYC information including pictures and videos, monitor daily for updates about the status of the exchange, regularly check your funds, review activities for possible suspicious ones, etc. With a hardware wallet, you only need to set it up and then send your funds. You can forget about it right after.

I wouldn't want to make a research about Crypto and Utopia since it's time consuming to know if they're actually 100% decentralized or just a semi or less decentralized and claim to be fully decentralized. We already have Bitcoin which is the most popular coin and has the most holders, why we need to choose Crypton which is still new and only listed on small exchange. I can use Bitcoin, trade in Bisq, and use Bitcoin mixer with Tor network, I will get same privacy level.

If there's a person who want instant way to achieve 100% anonymous, just use Monero.

Any form of centralization will either be attacked by those which oppose bitcoin or vulnerabilities will begin to appear on their own.

In the case of exchanges we are seeing both scenarios manifesting themselves, so we need decentralization more than ever, however many people will never accept this and change their ways until they are directly affected by it, and now that they are being affected they are finally willing to change, however even if there is a massive increase in the number of people holding their coins, once a new bull market comes a bunch of newbies will appear which will not care about this and the cycle will begin again.

Idk what Utopiap2p is but the FTX issue simply showcased one problem, don't store your assets on exchanges. This doesn't necessarily mean you wouldn't use them anymore for their intended purpose, as an exchange, but rather use them only for that specific one and not anything more. Ofc using decentralized options would naturally be better.

It's not the complicatedness but rather the "setting it up" process I guess? Not that I'm saying it's hard, anyone can study up on it and learn it really, but some people just choose convenience over anything else I suppose. The process in Centralized exchanges is something done in general for most account creation purposes so most people are used to it hence using it for exchanges doesn't really seem that complicated anymore.

In general, I'm just saying people are just THAT lazy, either in setting it up even if they knew how or in learning how to set it up. Especially if you consider how most people wouldn't really move till they get hit themselves.

Not all cryptocurrency communities want to go back to decentralized, because not all centralized exchanges have issues that the exchange platform dude has been hacked or malfunctioned.

As I am one of the community here in this industry, I still have my trust in other centralized exchanges such as Binance, Houbi, Kucoin, and others. Then what happened to FTX does not mean that it will happen to all centralized exchanges, it is not like that.

No wonder why Binance said they will release merkle data for full transparency. Indeed decentralized has been ignored due to conveniency of exchanges and thats really shocking for some who only viewed it as part of crypto space. I think many will now take a deeper look on it and considered using it more than centralized exchanges. For sure a lot has been caught up with FTX tragedy.

This is the best time to have that power with your coins by holding the keys and ensuring that you have them in your pocket. It shows how important it is to have your wallet and your coins directly in there. This is ideal if the exchange makes themselves DEX or the projects that plan DEX. I think futures with DEX is an excellent thing to check.

The actual problem is the users because they are using exchanges apart from what it is supposed to be for example to keep their cryptocurrencies for long period. Maintaining a crypto wallet isn't that complicated but for someone who is having millions worth of crypto definitely needs more responsibility for the security of their funds but it doesn't mean they have to seek help from the centralized service.

How do you mix centralization with Crypto-currency. I am yet to see a through crypto-currency enthusiast that upholds decentralization and very sensitive to security complain about lose that’s not due to wrong investment.

The so called big centralized exchange are completely greedy business men, yes some has asset worth billions and very influential but if you can take the teaching we get from here you would avoid or limit getting on Centralized exchanges. FTX isn’t the first and they won’t close the curtain on such tragedy.

DEX has been around for several years now, only most crypto holders are too bamboozled by the Blinkenlichten:

https://atomicdex.io/en/desktop/ (https://atomicdex.io/en/desktop/)

i don't know but in my opinion the crypto space as a whole is way more decentralized now then a few years ago. Just look at the whole situation with the exchanges back then and now. Back in 2017 and 2018 i still remember that new projects had a very hard time to even get their token to be tradeable because back then there were no real Dexes like we have them now with Uniswap or Pancakeswap. They had to pay very high listing fees in order to get listed even on small exchanges and big exchanges like Binance or Bitfinex or whatever vere extremely expensive. Nowadays at least everyone can get their token list themself.

Well this debate between centralized and decentralised environment will be ongoing as long as the crypto ecosystem will exist. So let's not try to find a solution or a conclusion here! We all need to focus on what we can do to save ourselves from any future mishaps.

Just don't keep your coins in any exchange. Whenever you are done with your day trade, just withdraw the proceeds to your own wallet. That's how you can save your money. Crypto veterans have been saying this since a long time now.

Even if crypto disappears in the future, people are still going to talk about them sometimes because they are already part of the history. For now, the debate between centralized and decentralized will continue as long as there are still people who can't seem to learn their lessons and will continue to support centralization. Time will come that another cex or any other centralized entity are going to collapse again because there will always be people who are greedy.

There is no need to find a solution anymore because the solution is already been there lying around the corner. They are decentralized platforms. This is the one that people should focus on to end the drama.

This is another costly way of learning for them and for sure not the last exchange to experience the same faith. We should adopt hard wallet now and store are crypto there which is more safe. What happened to FTX is the worst, we didn’t see that their platform will be close in just a week after the issue has been exposed. This is a good call to go back to the decentralized platform if its for the benefit of my own safety, I’ll start doing this.

This definitely showed that even top exchanges can collapse without a warning.
So yes, another hard lesson for people who are storing their funds in a centralized exchange.
A reminder to all that if it is not your keys, not your coins. A situation where nobody saw this coming.
Imagine a big and top exchange, having such big problem all along. A very disappointing part for most holders.
This is one of the reasons why a lot are still hesitant to join the crypto market. We can't tell which one will last long.

Right, on the other hand, even if we do our DYOR, it's not enough at this point. Because if this people behind has really bad intentions, so we can't really protect our selves right? Good thing is that I don't used or haven't used FTX at all, maybe because I'm not in the US and so would rather used my local exchange or just Binance.

Not saying Binance will not collapse or something, but they have been in the business for like 5 years now, and has built a solid reputation. Not sure when does FTX born, but it seem that it is build later than Binance. But yes, we might withdraw funds on exchanges, and keep our coins in a wallet that we have control.

Holding the coins in exchange was became a not safety option to current situation. The funds from crypto FTX was flowing in the market by the different ways. The people with good amount of money will inverse their in good coins like ADA, Ripple, Trx in the current market situation. Decentralised concept is essential one for the good raise in the price of that coin. When the price of decentralised coins is only controlled only by the investors and users. It’s can’t control by the company or owner of that coin for the longer period.

Cryptocurrencies are based on the idea that you should be able to hold your own wealth and not have to trust a third party with it. But, when the crypto exchange FTX collapsed and took with it its users' assets, it called into question how safe holding your own crypto really is.

Everyone wants their assets to be held in an exchange or by a third-party service, but those are vulnerable to theft, hacks, and scams. In world of cryptocurrency, even the biggest exchange platforms aren't safe. That's why you need to keep your crypto in a personal wallet.

A single private key can unlock a wallet, which means that every time you want to spend or move your crypto, you have to be ready for all manner of potential security breaches. Especially since there's no way to undo a crypto transaction once it's been completed. It's still safer than a global exchange like FTX.

Neither we should trust DEX smart contracts to store them for too long time. As at least when we trust CEXes, they get sued after messing up, You can't sue a faulty hacked smart contract. And what comes to praising decentralization in general, it almost always has centralized elements. Like wrapped btc that just got depegged supposedly because of Almada Research minted it a lot (https://twitter.com/DU09BTC/status/1596188005592891392).

Please realize that there is atomicdex, that does not operate with SCs, but on plain UTXO blockchains, and hence does not have any SC risk.

It's the first time I hear about people keeping their money on exchanges. As I always choose the ones where I have to enter my wallet address where I will get the exchanged funds..

DEX also cannot be fully trusted, because some DEXs are managed by scammers who will easily take our assets. As you said, no one can sue Smart Contracts if they commit fraud and take the assets of the users, they will just disappear. In contrast to CEX which will be demanded by its users directly. The main security is actually in its own use. they must be aware that crypto is very risky, and must be really good at keeping their own assets safe. A personal wallet is a safe place that can be managed alone.

Its unfortunate how FTX turned out to be. SBF who many has looked up to be the knight in the shining armor for crypto is the main villain, making away with investor fund and staying put at the Bahamas where extradition is impossible

Atomic Swap is something i have meant to read about but postponed it for a long time now. I admit i don't know anything about yet, so i'll come back after researching to comment something later on. So thanks for the tip. I thought that all of these DEXes would be based on some sort of SC.

OneArt CEO shared some important points I completely agree with. Decentralized is the main idea of crypto, but what is going on now? CEXs create a sense of security, and that's why people use them. You need to enter your email or phone number and use Google authentication as you're used to doing on other platforms.
It's 100% clear - an exchange is not the place to store assets.
Here's the article, check it out: https://oneart.digital/en/blog/the-other-side-of-crypto-back-to-the-beginnings

No matter how you look at it, exchanges are not meant for your assets to be stored with, for a long period of time. For reasons even if the FTX incident happened; people would get easier access with your funds especially if you are using mobile phone. Unlikely with wallets wherein you'll be needing passcodes from time to time you are accessing your funds which means better security.Another thing is being easily tempted with making your action such as selling or buying. Decisions should be well backed with ideas before engaging into it. If your funds will be stored in wallets, you'd be more hesitant 'moving'. These are just more practical reasons why putting your assets in a wallet, would be much better. Practical and logical reasons of why it should be done is better than to think of reasons because of the recent issue, which may just feed the worries of new ones in this industry.

People are simply using exchanges in the wrong way and they do not want to admit it, if a person used a hammer for a problem that required a screwdriver you will soon point out their mistake and try to correct them, and we see the same problem with exchanges.

People use them as their main wallets as they think this arrangement is more practical, especially if they want to trade the market as well, however by doing so they are giving up the greatest advantage and reason to be of bitcoin, which is to store you coins on your own and in a way become a bank.

Everything happens when it regards to scam exchanges and losing our funds in exchange gives us a lesson to ponder.
It realizing us the risk when we don't have control of our money. Because whatever will happen to them (exchanges) will surely never take full responsibility and give your money back but rather hear many excuses and ended up getting nothing from them. It is very disappointing but we also blame ourselves first because this is not supposed to happen if we never store our money in them.

Whether it was DEX or CEX, this still possible to happen and that is what we need to avoid.

In that case, people should really be careful because once it becomes a trend, scammers will also take advantage by creating their own version of decentralized exchanges with lots of freebies so that they can gather as many victims as they want. It was a huge tragedy that happened on FTX I think it was the worse case after what happened on MtGox but we need to understand that things like this always happened in the crypto industry but it won't gonna be the cause of its total destruction rather it's a good experience so that we can learn from it in the future.

https://www.axios.com/2022/11/29/sam-bankman-fried-100000-ftx-cftc-regulation
"Exclusive: Sam Bankman-Fried says he's down to $100,000
Sam Bankman-Fried had $100,000 left in his bank account last time he checked. In an interview, the former FTX CEO pointed to both personal failures and regulatory gaps to help explain the implosion of his company."

hello people, my name is Marcus, I have been a crypto investor for 7 years, I lost a lot on the collapse of the FTX, I lost $ 470k, I am looking for the same people to collect additional information and file a class action, I have already dug up some interesting information that can help us, if you want to participate or get acquainted, write to the bos

here are the files for review
archive pass: "ftxscam2022" https://[Suspicious link removed]/4m9sazba

I think it was a wake-up call for most crypto investors who have ignore all the warnings from like minded crypto enthusiast and continue storing their crypto on exchange instead of their personal wallet. After the incidence, i guess we can see the response base of the high percentage recorded by Trezor after ftx collapse.
Maybe people never believe a big exchange with huge capital can dissolve so quickly but now people are beginning to understand that nothing is impossible. We should always work towards protecting our funds.

You are absolutely right, CEX or DEx, none of them is free from risk of hacking, either DEX or non-custodial wallets are not 100% secure, so many incidents have been reported in media about hacking of investors' money was stolen by DEFIs as well online wallets were hacked. Big exchanges like Binance and Coinbase have reliable security system as well as funds are protected by insurance cover.

If we could, that would be great but we can't. The market is too far off gone to centralized and there is no returning back. There could be a few more bankruptcies that could cause it to get a little bit of shift towards decentralization and that's it. If we could have done anything then we would have done it but we couldn't and it is too late now. I personally do not mind, it is not a huge deal for me and I believe that we would be doing fine even if we keep going with centralized.

Because, if you trust the right places and if you end up protecting your funds at the right places then you should be doing fine as well and there is no need to worry about anything else. That's the key point here, you need to protect it the way you always should and there is no worry after that.

I mean that is still quite good considering he should be in the minus right now. That is the thing about real rich people, when they bankrupt, they do not bankrupt like you and me, they could take out loans and such for all the assets he owns. He might get all of his assets seized which would be his trouble, even with that he could just use his fame to make more money on speeches here and there.

What I believe right now is the fact that SBF will never be poor, even if he made bad bets with your money, he will be doing richer than 90%+ of the world easily, and that's a shame, someone who lost others money should be avoiding all of theirs in a jail.

The topic of returning to decentralization is not a recent one. It's just that the FTT incident made people panic even more. This is not a simple case, it will cause a domino effect. In fact, many people use bitcoin trading as a tool to make money, continuously trade, and use the leverage and contracts of centralized exchanges. This process has lost itself, they know that their assets are safe in decentralized wallets and hardware wallets. In fact, sometimes I do this myself, and what I think in my head is inconsistent with what I do in my hands.

Besides even if that is what he claims he has we also know that many rich people keep most of their money in hard assets like real estate or luxury goods like jewelry, art, expensive clothes and other items, so when a regular person says they are broke they mean it literally, while a rich person means it figuratively as their net worth can still be in the millions of dollars.

The system is without a doubt geared in their favor, but since the rich can manipulate the laws as they want and pay the best lawyers as well then this is going to continue for the foreseeable future.

Alert for transactions at dex, if we use metamask then we must be vigilant because bad things can happen, I once lost assets around $ 400 after the transaction in the pancakes, small things at that time because I forgot to lock or delete the account so that it was easy to get back.

I agree that the topic of decentralization has been present for a while, but the FTX incident definitely brought it to the forefront of people's minds. It's true that many people use centralized exchanges for trading and making money, but it's important to remember the security benefits of using decentralized wallets and hardware wallets to store assets. It's a good reminder to align our actions with our beliefs.

We!
We should keep our funds on self custody wallets and protect them by keeping your private keys safe.

You/We can use centralized exchanges but only for trading purposes, other than that like keeping your/our funds in these centralized exchanges for any reason is wrong. Because you do not have the private keys of the wallets of those centralized exchanges management can freeze your funds at any time they want.

And can you tell me who the hell keeps its funds on the exchanges? There really are such dummies? Because I kept my currencies in the wallet from the very first day in crypto world and I never knew that someone does in another way.. Then they pay for their stupidity.

I honestly never believed crypto exchanges are all safe. I was always doubtful about FTX, Binance or anything other. I remember using Poloniex, Hitbtc, Bittrex etc. I always preferred to buy coins and insta withdraw them to my Electrum address. Nowadays I felt bit safe especially after Binance. It can be beneficial to hold coins on centralized exchanges to generate extra money BUT using cold wallet will always be the safest method.

Of course, some traders keep their funds on the exchange and may use their funds to trade. But they only keep a small amount and the other funds in a separate wallet so they can control how they are used. We can't blame those who keep their funds in the exchange because they may have reasons for doing it. But hopefully, no one will get into trouble like yesterday's FTX case and immediately move the funds to their personal wallet.

In the case of traders, I don't think it's wrong to keep some of their funds on exchange, but vice versa, for investors having full custody of their assets is far more advisable. It is always not safe choice to trust third parties regarding assets ^{[especially centralized exchanges],} nor should you trust new wallet project that is not yet fully trustworthy and reputable and not many people are testing it.

The OP indirectly asked and might want to get review for the Utopia P2P wallet project and its goals, but I'm inclined to think that this is new project that still needs to be tested. I tend to think HW and other open source wallets are good choice, but I don't know much about Utopia P2P.

I know that it is not going to be something easy or something that will take time. But I know that it is going to be Binance that gets your attention and trust at the same time. I know it is not going to be that easy, but it is going to be quite possibly the easiest thing ever.

Yes, it is not easy as in it is going to be never going to rock, there will be news that will make you question the trust, but believe me, I have used Binance since the very first day it came out, following them even before the exchange, on their ICO period, and I can tell you that it has never given any user any trouble, no other place could say the same thing, it is just much better than everyone else.

It only becomes hard if the platform is still new but that isn't the case about binance. It was an old exchange and is currently at the top, so no doubt that many people trust this exchange more than the other. We shouldn't only remove the fact that it was a centralized exchange so they have the rights to control our money and do some restrictions later on if ever they like.

If we are against with this possibilities then it will be better to withdraw all your coins right after you buy them on the exchange. Decentralized exchange on the other hand is the first thing that we have before all these CEXs. It's only sad that we will wait for something bad to happen before we realize the true value/importance of DEXs.

This is one of the many reasons why the trading volume started to increase on decentralized exchanges (DEXes). There are already also a lot of derivatives exchanges that are decentralized on the chain, you don't need to create an account or undergo any KYC process, you only need your wallet. If you are worried about fees on Ethereum, there are already a lot of layer 2 networks or alternatives to the Ethereum network in which the transaction fees are extremely cheap.

If the purpose of the traders is to trade on the exchange, it is certainly not wrong if they keep some of their funds on the exchange because they use the funds for day-to-day trading. But to keep most of the rest in the exchange would not be advisable because it would put us at risk. It's better to keep the funds in a separate wallet that we can keep an eye on and be fully responsible for.

I've heard of the Utopia P2P exchange project, but I've never tried it. I was too scared to try a new exchange and would only consider trying it after I could get ratings from other members.

I've never kept my coins in any exchange anyway. I'm used to the OWNR wallet, but there are other wallets, including cold that are good for holding your coins. I just hope more people will learn how to control their savings after FTX collapse.

As long as coin holders share custody with Centralised exchanges, the exchange's carelessness and insecurity will be everyone's problem, especially when the team behind the exchange is fraudulent as well. The ability to set up trade orders and P2P trade on decentralized exchanges could reduce the use of CEX, as there are currently no decentralized exchanges that offer such services. DEX needs to keep improving its use and trading since they seem more secure

Who should provide our money safety? no one can't be ensure that, try to keep safe from our own responsibility, an example will never keep holding long term on the centralized exchanges, although lots of user's storing their assets on top exchanges where my assets isn't under my own control. If you need to trade/p2p then it’s fine to hold on exchanges. We can't 100% avoid CEX's because there are some limitation in DEX's. 

DEX does need to keep on improving, but that doesn't mean that CEX will stop, the more DEX world improves, the more CEX world will have something that DEX doesn't have. This is why it's very important that they fight on the ideology part and not just the tech part.

If they keep fighting at the innovation and tech part of the situation, they are going to stay behind and not make any money at all and it will be something sad to watch, but if they go out and talk about how they are decentralized and they can't be hacked into because they are not keeping anyone's money in a centralization location, that alone would get enough people to make it very good to use.

I think DEX will be the future of the market. Most CEXs have long-standing major problems. "your key, your money" - that's the DEX, I think the market culture will react to the adoption that shapes that trend. I also think that, over time, the approach to crypto changes as well. CEX(Binance...) can be trusted as a bridge to the DEX and therefore, I think CEX will continue to grow the way it has been but the DEX will return to a stronger trend.

We should really choose a centralized exchange that will not cheat or anything else. However, it can also happen in a trusted centralized exchange because there is a problem of greed among the employees who want to run away large sums of money from the coin holders or from the exchange itself. But many people still use centralized exchanges because they find what they want that they haven't been able to get from decentralized exchanges. And I agree that decentralized exchanges need to improve their service to users to have the opportunity to attract more members.

The main disadvantage and at the same time the main advantage of DEX's is that you are responsible for your own safety.A decentralized exchange facilitates trade between people but does not control their coins.

Can you please share what's wrong with the decentralized exchanges service?  As for me, the main advantage is when it's no KYC. All the other is not interesting. I don't want everyone to check my funds and transactions.

If you lose your money, in many cases there is nothing you can do about it. There will be no compensation and no one to sue. Because DEXs don't collect money (they don't charge transaction fees), they don't have capital to compensate for assets stolen from users.The potential of a decentralized exchange is as good as the idea of ​​Bitcoin, but like Bitcoin, DEXs are not yet ready for mass adoption. People still use fiat money and centralized exchanges.

So you really believe that centralized exchange will return my money back if they will be stolen? Haha. It doesn't work like that anywhere. You have to be quite accurate as the only responsible person for your money is you. No one will ever deal with that.

On centralized exchanges, funds are usually insured. Therefore, investors do not need to worry about the safety of their assets. Thus, protect investors from many risks and unpredictability

I've heard so many scandals about stolen funds on different centralized exchanges, that I don't believe in them at all. Choosing between privacy and "100% safety" I'll better choose decentralization.

Where do you read this? I've never heard of exchanges insuring their customers' funds. Some exchanges do have what they call insurance fund, like Binance, but it only amounts to a fraction of their total liabilities. So it won't protect customers from those risks and in general you shouldn't feel safe storing your assets in exchange.

This is common knowledge, you could always google it if you want, but this isn't true for many, specially for Binance, it's true for Kraken and Coinbase though. The thing is, it's not about insuring, but it's about the fact that it's on cold storage, at the same time we are talking about something "small" with FTX whereas something x100+ times bigger with Binance, you think it would be easy to collapse that?

They would have make a 10+ billion dollar mistake, you don't make that big of a mistake with that kind of money. Plus, all they have to do is not use our money to fund anything and they will be fine, they are making so much money as it is anyway, why do that.

It had been told and been advised for thousands of times that storing up huge amounts of money or funds on an exchange wallet is never been that recommendable.You wont really be able to experience out this
kind of stress and problem if you are really just mindful about security and dont make yourself that confident that much about these services or platforms. We've seen the worst and this isnt only limited on
FTX but also in other exchangers where hacks and issues had been raised up. For Binance, they do able to cope it up because if those SAFU funds they've been talking
but we know that not all would really be able to compensate on total lost.

Exchanges are prone to hacks and attacks, and storing all your funds on one platform is a risky move. It is essential to diversify your portfolio and spread out your funds across multiple wallets and platforms.

Moreover, relying on the security measures of any single platform or service is not advisable. It is important to take proactive measures to secure our assets, such as using two-factor authentication and keeping our private keys secure.

Yes, not all exchanges covered insurance on crypto's, not all are SAFU (term being used by Binance).

https://academy.binance.com/en/glossary/secure-asset-fund-for-users

But in mid to low tier exchanges, I doubt that they have similar programs though, because obviously, they don't have the funds. Just what it's not a good practice to leave your money in 3rd party like exchanges. Maybe small amounts to that you can just continue your trading, other than that, withdraw it in a wallet that you have control of.

I think that user data is especially vulnerable today. How can the user protect himself? Nowadays, this seems impossible. All user data is publicly available on the Internet.

Don't stick your personal information everywhere indiscriminately, choose apps that require minimal personal information to use, use a VPN, and create strong passwords. This is the minimum set to follow.

You don't have to post your personal information all over the place for it to be stolen. How the search giant Google leaked data. You can't call it "stick everywhere indiscriminately". Microsoft and Google have been stealing passwords and personal data for years. And sometimes it's just a human factor. It is very difficult for me to protect your data.

This is what I was talking about originally. If you want complete protection, you will have to abandon media giants like Google. There are alternatives to browsers, mail, instant messengers, and more that promise not to collect any data. But almost everything online is tied to Google accounts. So this is a rather inconvenient solution.

A call that's left unanswered, till this day many people are still using centralized exchanges, many funds are been withdrawn from Binance exchange after a false rumour was spread about CZ, but look how fast the exchange has recovered, most of the withdrawn funds are now back on the exchange, I think it's going to take a longer period of time before decentralized exchanges get the proper attention they needed.

How to refuse them, if literally everything is tied to Google? If you refuse all applications, you can return to the Stone Age. Thanks to the fact that everything can be done on the Internet, namely, pay bills, order food, pay for the phone, and so on, a lot of time is saved.

As long as fiat plays an important role in trading, centralized exchanges will be popular. There used to be a perception that widespread KYC would lead to an exodus of users and money from CEX. That has not happened. Increased regulation has in no way helped DEX increase its proliferation. For many DEX is uncomfortable and limited, but on CEX everything is very simple, there is convenient tools, there is a book of orders, that is the deciding factor in choosing the type of exchange. Convenience and availability of fiat. CEX wins in these categories.

I repeat once again - there are alternatives, but they are unlikely to solve all requests. Browser - Tor, search engine - DuckDuckGo, messenger - Utopia P2P (there is also a browser like Tor). Plus VPN and proxy. Payments for services clearly in the crypt can be carried out in different ways or through exchangers, if you don’t want to burn your payment data, otherwise nothing. But each small task will take half a day)

Got it! Thanks for the advice. It is good that there are steps that can be taken to minimize the risk of our personal data being stolen, it is a pity that it is not always possible to completely protect information because the Internet is open and interconnected, which makes it vulnerable to cyber threats such as hacking, malware or others. forms of cyber attacks. But if these steps help to solve at least part of the requests, then this is already good.

For the closed internet, again, there are decentralized ecosystems on their blockchain like Utopia P2P. Web3 projects can also be attributed here. There, the main snag is that you need to transfer all your surroundings there, but in any case, the connection with the majority will remain in the telegram) Not everyone is ready to switch to third-party software.

Yeah and I heard that there are a lot of projects or least tokens for decentralized exchanges as a result of the FTX collapse.

But now sure though, and now like months after the FTX collapse, the data suggests that still traders and investors alike still prefer CEX exchanges and like the top of them, Binance and Coinbase. So I will say that as much as we do call for us to to DEX, I doubt that it will happen because there are still cons about them, like the volume and liquidity.

That is just that way humans usually behave, an example of this can be seen when a tragedy happens, you see a huge outcry about what happened and the need to make a profound reform to the way the system works, but then after some times passes all of that pressure disappears and then no change takes place.

This is similar, after the collapse of the FTX exchange there were many voices that wanted for this market to go back to the early days and be more decentralized, but as soon as things calmed down people simply took the choice of using centralized exchanges again, as they offer the best rates and volume.

I don't know why people even keep their crypto on exchanges in the first place, it doesn't matter what exchange exactly. I always told that "not your keys - not your crypto". After the FTX collapse more people realized that, but considering the last events with Binance - not many.

If your purpose is to avoid third party, you only need to use a decentralized exchange e.g. Bisq or Utopia P2P as you have mentioned above.

But if you're want to protect your privacy, it's really hard since you need to use a decentralized coin with a help of mixer or privacy coin, you need to make sure your wallet operated by yourself where you run your own node (not possible if you hold a POS token), and any other steps to protect your privacy.

It seems like a new update has been released in Utopia P2P, which allows you to surf the Internet anonymously and quickly through an anonymous browser. I think this will definitely help to minimize the risk of our personal data being stolen.

Inherently a great deal of people are lazy, how many people imagine themselves as millionaires living a life of luxury? A great deal I am sure, but how many actually imagine themselves working hard to reach that goal for decades to come? Very few.

So if given the chance people will always take the shortest and easiest path, even if such a path is full of danger, and despite the lessons the FTX collapse should have taught to us, many will never learn their lesson until they are directly impacted by it.

I think the point here is not the theft of personal data, but the convenience of Internet surfing. Which is especially true for the CIS countries, where many resources were blocked for one reason or another, and in order to get to them, you need to buy VPN. And here you can easily access all possible sites without additional software and expenses.

Yes, the advantage of web proxies is that they can help you bypass restrictions and access blocked websites. Also, using third-party apps while connected to a VPN can compromise your privacy as they may not be secure.

What about third party apps? The bottom line is that no matter how expensive VPN you buy, there is a chance that there will be a jump in it, even a second, which will contribute to the leak of your real IP. Therefore, many build their anonymity in many stages. But in general, if you are not doing anything illegal, but just want to read a blocked resource, this is not so scary. Unless it's extremist media, of course)

This is a very high-profile case and many investors have been touched to the core, so to speak. Some lost large sums and became very upset. I personally do not have a lot of capital, but initially and in principle I have always been of the opinion that you need to store most of your assets on wallets, and not on exchanges

This has always been the case every time one big Centralised exchange collapse in the space, but there is still a huge gap between DEX and CEX despite all the recent gains for DEX recently, they still have a long way to go before they fill this gap. The fiat onramp is a big problem for DEX they don't know how to solve this issue for now and the issue of liquidity has not been fully resolved despite the success of AMM model. For me, we can just wish for DEX to take control but the present still belongs to CEX

It's a long journey for the dexes to finally be preferred by most customers and replace the usage of CEX. There's so much comfortability that CEXes offer and that's why we're also in there. No doubt that they're easy and comfortable no matter what are the fees they make because they're not far from each other. While the DEX, the news that's on them isn't good because we often see news about being hacked and exploited by some of their codes.

Remember what DEX were on the market 4 years ago and look at what they have now. How many functions and features appear. There is already a DEX with leverage trading. I think soon we will see DEX where there will be liquidity for tens of billions.

Not just 4 years ago but more than that and it was also taken into notice about these dexes. I still remember some of them that became popular but then didn't contain the competition because it's tough. Most of the old Dexes were already forgotten but they were made and used more than 4 years ago contradicting what you've said that they were in existence since 4 years ago. Well, their growth is true. Many of them even if just made a couple of years ago, they've become popular and that's the roots of decentralization that are being completed and continued. But then talking about FTX, there have been news that they're on recovery and looking forward to their comeback but asking people in here about if they'll still use them, I doubt it that many will obliged.

I think we already have over 10 billion dollars in all of DEX total as well, so it is not really a weird situation to be in. Obviously we are not going to see that in trading volume just yet, but we are seeing it in LP which is all that matters to me, it means that it can cover so much very easily. We are going to see it grow, we are not going to see CEX going away, that will stay as well.

Remember that crypto market is a growing one, so we could see CEX and DEX grow together thanks to market growing as well, some people will move from CEX to DEX whereas CEX's will find new people to join instead of them. This is how the market will continue to grow, it will allow us to do a lot better and surely that is a bright future for all crypto investors.

DEXes operate on a decentralized, trustless network, which makes them less vulnerable to attacks and less susceptible to censorship. While there have been reports of hacking and code exploits in the past, many DEXes have taken steps to improve their security protocols and minimize these risks. In fact, some argue that the transparency and accountability inherent in the decentralized model actually make DEXes more secure than their centralized counterparts.

I hope to see that day come when more people have more confidence in the DEXes than the centralized exchanges. Yes, that time is inevitable as the market grows, we'll get to see them for sure and that's why there's also a vast growth with them but then, too many things needed to get some fix on them.

They may have been less susceptible to censorship but I think you need to review the attacks that's made towards them by those that have abused their smart contracts and such. They're known for it although not excluding that cexes as well.

It's not just about trust. It's a matter of userfriendly. It is easier to understand on CEX exchanges, it is easier to buy your first cryptocurrency. Many people have a hard time understanding metamask. A decentralized exchange is generally very difficult for them. That's why they choose CEX

You make a good point about user-friendliness being a key factor in why many people choose to use CEX over DEX. While it is true that DEXs can sometimes be more complex and difficult to use for those who are new to cryptocurrency trading, it is important to recognize that they offer a number of important benefits that CEXs do not.

One of the main advantages of DEXs is that they are often more secure and transparent than CEXs. Because they operate on a decentralized network, there is no single point of failure that can be targeted by hackers or other bad actors. Additionally, DEXs often do not require users to provide personal information or undergo KYC/AML procedures, which can help to protect their privacy.

Absolutely not! On the DEX we are also at risk, and quite a lot of risk. The only difference is that your cryptocurrency is stored in your wallets and with your private keys. This just means that nobody can block it for you, of course, if the blockchain itself doesn't have such a possibility (it's perfectly clear what tokens I'm talking about here). And on CEX, the exchange itself can block your account. Otherwise, there are a lot of options for fraud, theft, and deception on DEX. So, do not mislead people and tell them that DEX is completely safe and not vulnerable to hacking.

You bring up a valid point that using a decentralized exchange (DEX) does not necessarily mean that one is completely safe from risks such as fraud, theft, and deception. While it is true that DEXes offer some advantages, such as more control over one's private keys, it is important to acknowledge that there are still risks involved.

Decentralization has always been a core philosophy of cryptocurrency, and the recent security breaches at major exchanges have underscored the importance of maintaining control over one's own assets. While using a decentralized blockchain and privacy coin like Utopia P2P can offer added security, it's important for individuals to take responsibility for their own wallets and educate themselves on best practices for securing their cryptocurrency. This includes using strong passwords, two-factor authentication, and physical hardware wallets, as well as staying vigilant against potential scams and phishing attacks. Ultimately, the success of cryptocurrency will depend on a balance between decentralized control and user responsibility.

Yes.

There will still be some risks that dexes bear and we can't avoid these risks but then, we have to be aware that these incidents that has happened with the centralized exchanges is also possible to any that we're using.

Even if they're the most reliable exchange at all, there's still the possibility that these risks will also be with them.

I would like to add that there are always risks until your money is not your pocket and no one knows about it but you. We are now seeing American banks collapse and you can lose your money in the bank. So keep your cryptocurrency on a ledger and don't tell anyone about it.

Of course, DEXes are not without their own risks. The lack of regulation and the potential for liquidity issues can create a higher risk environment for trading. However, with the right precautions and by following best practices for security and risk management, users can reduce their exposure to these risks.

In any case, all the major DEX sites will eventually be as regulated as the CEX sites.

Okay, let's imagine the next case: there is a decentralized exchange, for example, it's based on its own blockchain and has a closed source. How can be such an exchange blocked?

It is not necessary to block the exchange. It is enough to own stabelcoins. USDT and USDC can block your Stablecoins. It turns out that it will be enough to pressure the issuers of stablcoins and DEX will be left without liquid stablcoins.
The second reason is the low popularity of the exchange and the resulting lack of liquidity. If there is no liquidity on the exchange, then no one can use it.

I know people do call out all these centralized exchanges because of their shortcoming but people forget that they are the ones that carried this space so far, the contribution of exchanges like Bitfinex, Coinbase, Binance and Bittrex that just declared bankruptcy. There is no Decentralised exchange that can replace CEX for now, how do you think the fiat enters this space? We just need to hold them to high standard and continue to call them out if we suspect any red flags.

There is an opportunity to hack it. Even MM and then not so long ago I burst. And with regard to centralization, this simply contradicts the basics that Satoshi laid. And on DEX, I am of the opinion that this is a follower of ForkDelta and ForkDelta2. I had a lot of fail transactions there...

The truth is that there is no way that a centralized exchange will be the best choice for purchasing your coins even though assets trading is the major role of exchange but while we are at that we must put a lot of dots on the net to know if we are ready for the risk associated with centralized exchange such as KYC and non-custodial of the fund since the exchange have total control of your coin with them and what you are given is just several balance without any form of recovering security details.


So before we chose any third-party custody, we must first know the extent to which we can recover our money in case of a hack or exit scam like that of FTX.

This is a risk that will happen to CEX. I have analyzed this a long time ago. CEX offers convenience and security that is done by professionals but if CEX becomes a scam it will be a big loss for the people who have entrusted their assets.
Maybe DEX is more secure but it is also risky for those who don't know about digital security. On DEX, hackers will try to hack assets by exploiting aspects of human psychology and this also has a high risk for people to lose their assets due to hacking.

As the industry continues to mature, it's possible that decentralized exchanges will improve in functionality and become more viable alternatives to centralized exchanges. It's important to monitor advancements in the DEX space and support projects that prioritize user control, privacy, and security.

https://cryptopotato.com/ftx-ceo-suggests-restart-plans-for-the-exchange-in-new-compensation-report/


FTX will come back again in the future with new CEO and team. There have been so many plans to revive this dead exchange site. I remember that if SBF was not manipulating this exchange site for his own advantage and im sure that ftx has become as big as binance.

There have been bunch of users actively traded in FTX. I hope that i will be reviving again.

The FTX collapse last year has made a lot of people remove mind trust on them, because of the mistake the company made, which causes a lot of damage, and lost of funds, which is also affect me as well during the time, I was liquidated in future trading position, before I could release source of dipping market, was too late, Having said that the trust of FTX  collapse has more long way to go enable to build back the trust to the company.

It's true that people lose a lot of trust especially on trusting centralized exchanges. Though this put CEX into providing more quality services to users as people now are aware of the potential risk of centralized exchange. They need to improve to gain back the trust of the people that awaken their though about the risk they are into. As much as we can, we shouldn't store our money on CEX because of the history of it and the potential that it will happen again. Majority of people who become a victim of the FTX collapse won't be using it anymore and this is why the recovery of FTX is just a long shot chance.

Some dex has decent volume this time. People learned from FTX's case but they never learned if dex was also BS. I meant so many cases that was making the users got trapped caused by they platform goes down and they could not access their own money. DEx is good as long as it's truly decentralized but i don't even see any true decentralized dex till this time.

It will be a long time before we see true 100% dex. It's very funny when a project claims to be 100% dex, but after some danger stops the blockchain or cancels transactions.

Then you can try to check Crypton Exchange (https://crp.is). The biggest disadvantage is a small variety of acceptable coins. But as soon as now privacy coins are again delisted from numerous exchanges, they can accept them to be traded here.

So far, private coins have not been excluded from exchanges, for example Binance still trades most such coins. Or smaller exchanges continue to trade too. But some private coins have their own DEX. I think that if delisting will start, many users will start to use such DEX rather than third-party services.

If there is a certain supply from the token, then there will be a certain interest from the exchanges. LUNA were traded on Binance, after the collapse of Terra. Other exchanges did not believe. But this does not mean that Binance should repeat the history of FTX.

I understand this feeling, losing trust in CEX, because no matter how big the platform is, if there are problems and related to regulations, then CEX will be hit and have an impact on the assets it owns. This is really annoying. But on the other hand, sometimes we also hesitate to use DEX platforms for several reasons. Even though there are actually a number of DEXs that are indeed reliable and quite reliable.

In the cryptocurrency world, no one is immune to collapse. Large exchanges such as Mt.gox or btc-e have crashed. FTX has also collapsed. Now there is a targeted attack on Binance and Coinbase. I guess nothing lasts forever in this world and a crash is just a matter of time.

Now there is a strong attack on Binace and Coinbase, but they are too big exchanges to be broken. FTX was a big exchange, but frankly it had a terrible design, it was one of the most uncomfortable and unpleasant exchanges. Also, there was too little liquidity on many pairs. I always wondered why FTX was one of the top three cryptocurrency exchanges.

I don't think the exchange can be too big to fall. If Binance don't have the funds that they claim it has, then its crash is just a matter of time.

I've never spoke about third-party services. I don't even know what is that.. And you're wrong about delisting. Check out this article: https://cointelegraph.com/news/binance-to-delist-privacy-tokens-in-france-italy-spain-and-poland

True, it's caused by there are no transparency in the exchange sites. I meant some wallets must be dedicated to make sure if it will always become transparent, but we can identify easily the hot wallet.
Remember when FTX was collapse. Its wallet was also fully transparent. The only problem is if the investors and users didn't know the financial in the company.

They have no clue about what's going on with it. That's why the retail investors and users will always be loosers once the exchange site goes bankrupt.
There are no decentralizations in the crypto except bitcoin.
Everything being controlled by the developers even dapps as well.


I think that if there shall be a reliable method to disclose the financial condition from any crypto exchange sites. I meant something like a financial report once you are seeing from the stock market.
So far there was no exchange site that was published their financial report properly.

DEX will be the biggest market in 2025 or 2030 because there are already many CEX exchanges that have ended up bankrupt,
after FTX then now there are COinbase and Binance which might go bankrupt because they are fighting the SEC,
of course if they win it will be safe, but if they lose it is certain Bitcoin will be dumped and all altcoins will be dumped too.

The difference was that in that case FTX just spent money that they didn't have, which caused them to collapse. We had something similar in my nation as well, a crypto company ended up spending the money they had in their books that wasn't theirs to buy out another company, but after a certain threshold of people withdrawing due to bear market, it all went belly up and bankrupted.

In the end, decentralized is good and all, but we can't keep having that type of thing on the long run, it just won't be possible, decentralized is not sustainable because it requires our contribution constantly for liquidity and if we don't then it doesn't work. It would require all of us to go there together to be less volatile than centralized ones, and I don't see how we can convince that many people.

In theory, it is possible that Binance will lose the SEC trial, but Coinbase will definitely win. Binance does not need America, they can create a lot of their own large exchanges! But Coinbase is the flagship of cryptoamerica

It's difficult to predict with certainty which type of exchange will dominate the market in the future. The cryptocurrency industry is evolving rapidly, and both centralized and decentralized exchanges will continue to coexist, each serving different needs and preferences of users. It's always a good idea to diversify and explore various platforms to mitigate risks and take advantage of the unique features offered by different exchange types.

It is what it is and this is inseparable from Trust and Transparency because In the crypto world, trust is a key factor. When a DEX project claims to be 100% DEX, there is hope that the transaction will go ahead as planned without third party interference. However, in the event of a technical failure or glitch that could affect transactions, this can reduce user trust in DEX.

Beyond this incident, I think Stakeholders there will focus on overcoming technical hurdles, improving security, and implementing a more decentralized decision-making mechanism. As development continues, further progress towards achieving a more decentralized DEX can be seen.

From the original idea of Satoshi Nakamoto, only some projects that follow his precepts remain. 99% of the projects now only pursue a commercial goal. And only 1% of projects really care about decentralization and privacy.

Okay, what about the latest great airdrops? Utopia P2P just launched a huge airdrop for all its users. All you need to do is to be online in their messenger and there are 11,111 daily winners! Here's the info: https://twitter.com/UtopiaP2P/status/1669624485387939843

I see that if FTX has been returing 7 billions worth of money to be credited to the its investors again who have lost money due to the collaps of FTX under SBF.  There is a plan to recover FTX again as there are so many investors are interesting to help in recovering this company again.

FTT price soars again.

Yes. FTX begins discussions to relaunch its international exchange. Reversal mission I think. it's like an old wound treated but the scar is still visible. really smart people have a lot of sense. I don't know if it works or not but if it works I'm sure like you said many more stories will be born. hope it doesn't happen again.

There was already such news a few months ago and then the price of FTT token increased a lot. But in the end it all turned out to be just talk and no action happened. This time it might be the same, they gave us the news and made a small FTT pump but in the end we might not see any action.

It seems to me that it is a simple way how it usually works. All the coin inventors try to pump it using hype news. It's one of the ways how to collect peoples' attention to the coins and nothing else. But sometimes it also works positive.

What you considered mere talk has really raised the price, and there are those who certainly achieved benefits from it. The most important question, in my opinion, is who really benefits from this.

I have believed since the fall of the FTX stock exchange that those affected by the fall are the ones who kept their investment currencies on the platform and as a result of these losses they will try to revive the group's enthusiasm for the platform even in the form of fake news.
Those affected are also the trading platforms that were listing the FTT currency and lost after the currency's value fell after the stock market collapsed.

I never see it wise to renew confidence in the collapsed platforms, nor in the work team that was working on them, and perhaps it is better to think about developing new projects and investors to invest in other more efficient projects.

This is definitely the work of a manipulator. They have a lot of FTX tokens left that they didn't have time to sell before the collapse of FTX. Now they need to make a profit, and for that they create such news.

That's a miracle for me how does the market work. Is everything connected to investments and hype only? I have some of my freelance paid in crypto, but I never knew how to deal with it. Just withdrawing some when needed. Maybe if I'll learn more, I could also earn on it.

Guys be careful! Now there are scammers who send you a letter on behalf of FTX. You send them your information and they can use it. So check the information!

Can you share more information? Like where you got the letter and the sender information(account, email, or anything)? It would be good if you disclose the information.

A legitimate piece of information that came from official sources is that they incorporate PwC and Kroll to help their bankruptcies processes. So if anyone got an email mentioning FTX's cases from both of these companies, it is very likely it is not a scamp attempt. Personally, I have received 3 emails from them, consisting of 2 from Kroll, and 1 from PwC.

If anyone wondering where is the sources are, you can simply search around or take a look at https://twitter.com/FTX_Official/status/1593317347703590915 and https://decrypt.co/114671/big-4-accounting-firm-pwc-approved-as-joint-provisional-ftx-liquidators.

Yes, it can really have a positive look. But it is especially strange when poorcoins have such success. What can the right advertising and the right hype do.)

Exactly, nowadays with a good marketing team and enough money you can promote anything in the world. And no one will ever know if that's scam or not. And it makes me really nervous :( There were good looking coins already where people lost all their money.

A couple months ago a very large number of people received a mailing. In the end, FTX representatives had to deny their involvement in this mailing because hundreds of thousands of people received it. And still some people are still receiving these emails.

I see. It is expected that scammers try to spoil the FTX bankruptcy processes. They take advantage of legitimate information for their own scam purpose. Certainly a deceitful attempt to mislead any cryptocurrency users, and it is not specifically tied to FTX users, since I believe they got the email from any leaked database. So many cryptocurrency users who have ever been got their email leaked are likely to receive the mail.

As I have been said, they partnered up with PwC and Kroll, which means any sender from those emails is very likely a legitimate mail. For example, I received an email from a sender with the domain of @restructuring.pwc.co.uk and @kroll.com.

Maybe I'm a little off-topic, but have you heard that X-inspired coins pump and dump as Elon Musk revamps Twitter? Is that his another manipulation or it's just a coincidence? As people already got used to the fact that no matter what he does, it affects the market somehow..

I'm more interested in what's up with the FTX 2.0 launch at this point. Will it remain news for price manipulation or will we still see the launch of the exchange?

The success of any exchange launch relies on various factors, including regulatory compliance, technological readiness, and market conditions. Price manipulation accusations can create negative publicity and regulatory scrutiny, potentially delaying or altering the launch plans. However, responsible exchanges prioritize transparency and fair trading practices to gain trust and credibility within the crypto community.

The FTX collapse make many people lost their assets in the cryptocurrency exchange in one way or the other, which most future trader's was liquidated on the position as the market bleed heavily. Base on that, keep your crypto exchange is not really safe because anything can happen at anytime, if FTX can collapse, which other crypto platform can do that one day, and for holding a coin is good to spread your asset for a better position.

Actually, it's not just with the FTX collapse but also with other exchanges that have fallen.

It's not advisable to keep your funds on exchanges. With FTX and other collapse, this gives the idea that we shouldn't be too confident trusting them our funds. If you're a regular user of an exchange and of course, it's no longer with FTX even if they have comeback as said in the news. You only need to deposit with the amount that you're fairly okay to lose with. But if you're an active daily trader, you know that everything can happen with your fund so, it's either you lose more or earn more. But never ever entrust them if you're thinking of keeping it in the long term.

Is Sam creating FTX 2.0? Now when he is free he can do whatever he wishes I guess, but it would be pretty crazy if people decide to follow him and use any kind of service where Sam is involved in any way.

Decentralized roots... what would that be? Most of us still use centralized exchanges for all sorts of reasons. Higher volumes, more markets, and options...

The launch of FTX is back after recent news, FTX has confirmed its return to the market, but again I'm not sure if it will happen or not it would be crazy if FTX stood again on a crypto exchange.

Source from Watcher.guru. (https://watcher.guru/news/ftx-confirms-plan-to-relaunch-exchange?utm_source=TelegramNews&utm_medium=TelegramNews&utm_campaign=TelegramNews)

Also recently associated with the rugpull BALD token? There was involvement with Alameda team or its ally SBF but on twitter it became a hot topic after they removed its liquidity in the DEX market.

The fact that people could still do this is beyond understandable. Anyone who got scammed and then got scammed about being scammed should reconsider their life choices to begin with. I am not here to victim shame anyone, they lost their money and then they lost money about a thing regarding they lost money. But that doesn't change the fact that we are talking about something incredibly obvious and nobody should have fallen for that.

I understand the FTX situation, you may not see that coming and that's fully understandable, but if people send you fake mails and you go for that and lose money again, then I am sorry but you are going to end up getting scammed more in the future as well, that's just how it is for sure.

Decentralized blockchain, servers or applications themselves are not full proof from scams and frauds. We have seen a lot of rug pulls and even in those that has proven codes, there could be a loophole still not public that could lead to loss of a large amount of money on a single mistake. And there are ever rising phising and malware attacks on user level. Alternatively, centralized exchanges when they are legit to their words have multiple layers of security in case a or few of them are breached and the user funds are distributed to multiple multisig cold wallets than one.

Agreed, but that's that. Someone fell for that.

Personally, I do get scam email that relates to the FTX bankruptcy processes, but only if I browse around on spam-marked mail. I use Gmail mail services and they are pretty good to filter any spam and scam mail. I do believe any popular mail provider/service also has a good enough mail filter. One essential thing why scammers still do this kind of technique or scheme is because it works. So, they simply got them motivations to do the scam.

Therefore, it is extremely important to take care of your digital hygiene. Cryptocurrency is stolen from many people on a daily basis, and it happens all the time. People still haven't learned to be responsible with their digital security.

I use decentralized exchange only as I care of my personal information. I don't want to share my passport with everyone and link all the transactions to my name. That's insane doing that in today's world and situation.

Recently there was news that the US authorities are pushing for DeFi to license banks. So maybe soon they will force DEX to get a license, otherwise they will just block access to the sites.

Since after FTX collapse cryptocurrency market has not been recovering and that is the root of Bear market which takes many people unaware of the crypto market not being recovery for a long term now, but have to accept the fact and believe that crypto market we recovered by entry Bull Run, which is the time to buy more coin's and have the patience of holding for target price of sell.

We have recovered already, seen a good bounce since the FTX collapse, but we are still far from the bull run that we are all looking at because we are still the state of bear market. Meaning the price will definitely going down for some time and only after the bitcoin block halving that we will have that bull run that we all been waiting for.

As for the roots of decentralization, it has been ever since though. Even before the collapse of FTX, everyone is calling for a decentralized exchange or at least us traders should go down that route. However, there are also a lot of drawback of decentralization that majority of us will continue to used CEX in my opinion.

But you do share your passport/id with the service that acts as a fiat ramp when you cash out. You can move your tokens in DeFi, sure. But ultimately you will leave a transaction trail that you need to explain to CEX if the amount of money you are cashing out is big enough, or if there's something suspicious with the tx history, so hopefully you have everything in order so you can explain the origin and the route you were moving your money.

This is of course assuming that you will some day want to cash out.

Traders will never go to trade on the DEX exchange because there is simply not enough functionality there. All these talks are only led by hodlers. If you are just a coin hodler, it doesn't make much difference to you where to buy or sell them. If you make transactions every day or trade on the futures market, you need CEX.

Bearish markets always happened in the crypto industry and it won't be any problem for veteran investors because they know eventually the market will recover in the future after all of these things are done. if the drama about FTX hadn't happened investors would just blindly invest their money in some centralized coins which is not a good idea at all. As we can see it happened so fast and while we were asleep, the price was cashed suddenly, and without even knowing along with the decline of the price our capital is also decreasing dramatically and doesn't have any chance to recover.

Or simply put there is no liquidity in DEX, so that is one cons against using them and that is one reason why we are still in CEX despite the many so issues like hacking and losing funds and scams.

And as much as we love DEX in the beginning, I don't think that we can simply go and switch from DEX-CEX, it's not going to happen overnight. And I don't think it will happen in the next 10 years or so.

I think it could happen much sooner than 10 years from now. But it will be manipulative. It will be DEX which is actually under government control and they will give people the supposed appearance that they are decentralized, but in fact everything will be under control.

People won't switch to DEXs because of the low liquidity, steeper learning curve, and higher fees. They're fine with CEXs just the way they are. Don't forget that convenience goes above all else. This little "FTX incident" won't affect CEXs whatsoever. Exchanges will move on with other tactics/strategies to keep attracting customers (like how they've been showing proof of reserves after the FTX collapse).

For people to lose trust in CEXs, something catastrophic must happen (like Coinbase, Binance, and Kraken collapsing all at once). But I don't see this happening anytime soon. I'm fine with DEXs being an alternative than a replacement, as long as they work as intended. With true decentralization, crypto will become unstoppable. Who knows if CEXs will live alongside DEXs for generations? Just my thoughts ;D

Honestly I like DEX or CEX. I will just keep a lot of my money in DEX and I will do a little transaction on CEX. So I think the two can coexist because they create a mutually beneficial symbiosis. Of course it will be a little complicated if you make transactions from DEX (in my opinion) because I see that CEX is simpler and more efficient in carrying out exchanges and trades.

I never faced any problems or issues moving money from or to DEX. Everything is as simple as possible. And what is the most important for me, that's all fully anonymous and no one can track your operations.

Many think that after FTX incident many people would shift to use Dex but it doesn't translate into reality. Maybe some other take a rest to use Cex because they got traumatize for the experience they get from that incident but once they discover the liquity and volume is so low with this type of exchange they will shift back to use reputable CEX.  
There's a lot to learn from what happen on FTX and we need to use that experience to take proper decisions.

Low liquidity? The chicken-and-egg prblem. More users equals more money. How hard is learning? That's fine with me for now. Since technology is improving exponentially, we will soon have easy-to-use platforms. And costs? Not to mention CEXs' exorbitant exit costs.

You are right: ease is most important. But it fits differently for everyone. A problem with one FTX shouldnt be used to assess all DEXs. Balance between regulated and decentralized items that work properly is needed. Consider it crypto's yin and yang: centralization and decentralization. It works; It works that way

Its too easy to declare CEXs wont be trusted unless something horrible happens. Remember that opinions change like the wind. Im joking, but in a truly decentralized world, the sky's the limit. DEXs and CEXs living together? Wait and see. However, lets not limit ourselves to one or the other. My friend, we need balance. Always remember that everything has a reason, even if its not obvious.

You do have a point there, mate. Life is all about balance. We can't just discriminate against all CEXs because one turned out to be a "bad egg". Centralization will always be there whenever we like it or not. We just have to prevent it from taking over the whole industry. A divide between the worlds of centralization and decentralization is necessary for crypto to proper.

I believe DEXs will improve over time to a point where they will become as good as CEXs in terms of performance and cost-efficiency. Neither will replace the other as they're completely different things. It's like comparing apples vs oranges. What CEXs will do is provide proof of reserves to gain the confidence of mainstream investors and traders alike. With good regulations, a collapse will have little-to-no impact over the crypto market. Who knows if this will make crypto bigger and stronger in the long run? Just my thoughts ;D

Have you heard anything about parallel finance? Maybe their new platform is one of the ways to decentralization. I think that if every project would create something similar, we would quickly become a decentralized crypto world

And how does it coincide with the need of privacy? How many no KYC centralized exchanges there are? Too many countries put taxes on crypto operations and I don't want to share it with govt. My parallel income should remain unknown to anyone. So my choice is definitely no KYC dex.

Being decentralised is what makes bitcoin so much better than the vast majority of everything else. The main problem with FTX & platforms like Gox before it though is user reliance on the trustworthiness of third party custodians. Never, ever rely on anybody else, any third party platform to store your crypto for you. Self custody is the only way, look after your own money, it’s not that hard.

Yes! When it comes to privacy issues, of course DEX is more private than CEX. But the point here is about being anounymus. CEX can also provide comfort and security in transactions. For owners of small amounts of assets and still not familiar with crypto wallets CEX is a very good option because little by little they can learn and make money trading on CEX.

Well, I think that the crypto world is largely centralized. There's also that decentralized part, but it's definitely much smaller. Just take a look at Binance, and they are growing... So I think we will never have a fully centralized/decentralized world. It's probably impossible to discuss the shares of the centralized/decentralized part in the crypto world, many crypto services and projects use the "decentralization" word just to attract people.

Certainly, in the future, centralized exchanges (CEX) will likely come under government regulation, while decentralized exchanges (DEX) will remain completely transparent but need to enhance network security to prevent hacker theft incidents. DEX and CEX can coexist side by side. Regarding FTX, the owner of this exchange as well as its executives are facing allegations of fraud before the law.

Such calls happened all the time before and after the FTX crisis. I was not in the market when the Mt Gox crisis happened but I am sure it was more traumatic than FTX. People didn't do it the right way then and they don't do it today (including me). Centralized exchanges have some advantages and those advantages are attractive to us. On the other hand, decentralized exchanges are still too complicated for some of the end users, and not good enough for exchanging coins on different chains. However, if we don't pay enough attention to such calls, centralized exchanges will continue to trap us all, as in the case of Mt Gox and FTX...

The appeal of centralized exchanges is clear. Their interfaces are smoother, transactions are faster, and volume is larger. They become a double-edged sword. We (including me) often choose convenience over security. We expose ourselves to centralized entity vulnerabilities when we do so.

I agree that decentralized exchanges are complicated. They're imperfect. However, they provide openness and security that centralized exchanges lack.

Clear: crypto requires effort, investigation, and ongoing learning. Mt Gox and FTX are terrifying examples of this. We risk repeating history if we ignore these calls. I urge us to be cautious, stay alert, and put our safety first. The world is wild, therefore we should be prepared.

Did it really take this fall to realize people shouldn't use exchanges like theor personal wallets?  It's far too late for some people as they don't use nor care to even learn what a real wallet is.  For those in that group they are destined to eventually fall victim.  People should never have used exchanges as wallets in the first place, it's counter to everything crypto was even created for.

I fully support your opinion. Each person should be responsible for their own money. Therefore, if a person has not learned how to keep his assets, it is only his fault that he lost money. If you are too lazy to figure out how everything works and become really educated, you decide to shift all the responsibility to other people. People like that don't deserve to have a lot of money.

Can you tell more about "decentralized exchanges are still too complicated for some of the end users"? The ones that I used looked the same as CEX, but without KYC mostly. So what's the difference and complication?

That's precisely what's holding crypto back. By bringing back the middleman, crypto won't be able to achieve its full potential. It's like going back to the era of banking. Wasn't Bitcoin created as a response to banks' failures? Trusting a centralized exchange would be no different than trusting banks with your money.

If people only used decentralized alternatives, crypto would've defeated banks by now. Don't expect CEXs to disappear, even though the collapse of FTX had a negative impact over crypto market prices. CEXs will only become bigger and stronger than ever. Especially now that regulators are weighting on the industry. Who knows if someday FTX makes a comeback? Just my thoughts ;D

If people only used decentralized trading platforms, cryptocurrency wouldn't beat the banks. I'll tell you why. The banks and their very rich and powerful friends would not approve of this and would very quickly ban cryptocurrency on a legislative level. The banks have all had cryptocurrency for a long time and as soon as an official law is passed in the US, the banks will clamp down on the cryptocurrency market very hard and very fast.

It's everyone's choices that led us to this point.  Stop leaving money on exchanges and using them as a personal wallet and the problem is solved.  It's not the idea of dex vs cex, it's really how people utilize them.  Put money on, trade, take money off to wallet where only you control the keys.  Boom problem solved

that's actually pretty and simple. and that is absolutely right! cex or dex, is all the same. they will screw their users if they want to. ftx won't be the last exchange that will have such problem. so long this industry is existing, there's a chance of having the same prob again.
so it is up to the individual how he will secure his funds. always keep in mind about having your own control over your funds.

I really wonder if there are still such people keeping money on exchanges, especially after all the latest news about coins delist, exchanges blocks, etc. My rule from the very beginning was to choose the trusted wallet and keep everything there.

Well, I have some amount in some exchanges, like I have some amount in some casinos... we either trust the service or we don't. If if trust it we will always have some amount of coins that we keep in those services. Of course, we risk with that, but moving funds after every trade, after every gambling session, can be expensive. Of course, that should never be an "all-in" amount, it's the part we feel comfortable leaving there sitting and waiting for the next trade/gambling session. If you are not comfortable with that, you shouldn't use that service in the first place.

Exactly. Unfortunately, most people these days want what's most convenient to them. It's a hell of a lot easier to keep crypto in an exchange, than making your own wallet, loading it with crypto, and securing the private key and/or seed from "harms way". This carelessness, is what makes centralized exchanges (CEXs) the main target of hackers. What happened with FTX was not a hack, but rather a result of "mismanagement" from the team.

Either way, the collapse had a negative impact over crypto market prices for a short period of time. The damaged would've been "mitigated" if decentralized exchanges (DEXs) were the "driving forces" of the crypto market. Don't expect things to get better, especially when CEXs still "hold all of the cards". They will only become bigger and stronger than ever. At least, we know DEXs won't be going anywhere. As long as people have a choice, there should be nothing to worry about. Just my thoughts ;D

After the FTX incident which succeeded in destroying the crypto market and its impact is still felt today and in this case you are 100% right. In the world of digital currencies and everything digital, convenience often takes precedence over security.

I think rather than going to the trouble of setting up our own wallets, guarding private keys, and making sure they are protected from potential threats, it's better to migrate or abandon them and fraudsters are always looking for new places and centralized exchanges (CEX) and that's their main target.

There are tens of millions of such people. Understand that 90% of people are very stupid and they are just too lazy to create a wallet and store funds on the wallet, it is easier for them to store everything on the exchange. This is also the fear of responsibility. Many people just want to shift the responsibility to the exchanges, and in case they lose their funds, they will have someone to blame it on.

At least FTX users will not be fully losing their money. FTX has been starting its liquidation for the available assets. The company will be starting to pay the creditors and anyone who have balance in the exchange site during the incident.
People are too lazy and i agreed but we can't fully blame them all. We know that if FTX incident was just happening in a short time.

Storing money in exchnge site is a complete mistake by the users, but the exchange site didn't also allow its users to withdraw at the time of incident.

In case if the fault was on the FTX team caused by they were mismanaging user's money which already owned by the exchange site. Not your key and not your money. I hope that i can get back my money soon after the liquidation process.

That's certainly true, mate. People don't want to take full responsibility (self-custody) of their hard-earned crypto funds. This is the reason why centralization is plaguing the industry. Without true believers of decentralization, our hopes of "beating banks" would be nothing but lost. There's nothing we can do about it, especially when Wall Street is already in the game.

One thing for sure is that FTX's collapse is nothing but a short setback for CEXs. These entities will only they get bigger and stronger over time. After all, they're the only way in which governments are able to efficiently collect taxes from you. Not only that, but CEXs give the government a "full scope" of where the crypto is flowing. Decentralized alternatives will be left behind in the dust, as people continue to put their trust in "the middleman". Who knows if DEXs ultimately get "outlawed" by the government? Just my thoughts ;D

Anyway, I don't fully understand such a situation.. Like when I need an exchange, I put the exact sum to the exchange, do the operation and withdraw it back to my wallet or wherever I need it. Why should I leave something on the exchange?

Or you can use some coin swap service for quick swaps... I have the amount on the exchange that I use for trading, it's not big, and I don't wish to pay withdrawal fees after every trade I make. I am an amateur trader, and I don't trade with some big amounts so I don't feel some big need constant moving of my trading capital. What you are saying is fine and advisable for people who trade with big capital.

Guys just keep only those assets in the exchange that you are going to allocate to the transaction. You don't need to hold absolutely all assets. If the amount of your trades is very large, then trade on several exchanges and even if 1 exchange scam, you will still have 50% of your funds on another exchange.

Even though, hacking of exchanges alarmed cryptocurrency holders many times, in truly manner collapse of FTX has awakened and shaken them hardly. I feel hardware wallat is the best way to keep cryptocurrencies safe. However, this will cover BTC and ETH and other blockchain coins in well manner, but for altcoins we need to keep ourselves updated as we may not know when the project will switch the blockchain network. Also keeping assets in hardware wallet is difficult for users who are day traders. So for investment purpose, that too long term, that is the best option.

There's no reason to leave all of your crypto in an exchange, other than the amount you're willing to trade at the moment. It has always been advised to leave small amounts in an exchange due to hacks and/or other undesired events. It's just that people don't listen, because they want "the easy route". Convenience goes on top of everything else, right? We should expect further "scandals" from CEXs due to the way they're designed.

The question is: Will people continue to trust CEXs with their money? I'd say, yes. At least, we'll have decentralized exchanges (DEXs) at our side. Who knows if someday DEXs get the same level of performance and cost-efficiency as their centralized counterparts? Just my two sats :)

If I decide to use some exchange I trust it enough to leave some funds hanging there. Some funds, for some time... never "all in" and never "all the time". If I don't trust it, I will not use it, simple as that. And yes, we will continue to trust CEXs with our money, numbers are clear about that, simply CEX has a lot to offer. Because of that I am ready to close my eyes on security and risk some amount just to take advantage of some stuff. In my case, it's mostly staking.

But I never risked some big amounts on that, for me it's like gambling, I will never risk more than I can afford to lose. But some people are ready to risk literally "all-ins", and that is not smart/wise! In years we saw many exchanges/casinos/cryptoservices falling down just like that, so that old one worked and will work all the time "Never keep all of your eggs in one basket"!

Aw, I didn't think about the withdrawal fees. As every swap also contains some fee.. I usually store all the funds on my wallet and withdraw it according to my needs with a concrete person from my country. So fees are everywhere, I guess, but the services I use have the lowest one that I don't even mention.

CEXs are the only gateways between the crypto and Fiat worlds, so don't expect them to disappear anytime soon. As you've stated before, it's always important to "never keep all of your eggs in one basket". You'd minimize risks of loss if one exchange goes all the way down the drain in an instant. Leaving only a small amount of coins for trading purposes would help you protect against undesired events. If you're keen on trading large amounts of crypto, DEXs and P2P trading platforms would be the way to go.

People need to be properly educated to help avoid getting into another disaster caused by mainstream crypto exchanges. What matters is that crypto stays decentralized so it could stand the test of time. I'm confident crypto will live alongside Fiat currencies for generations. ;)

The problem with many people is that they think that if they invest all their money in cryptocurrency they will become rich very soon. But unfortunately the opposite happens and they lose all their money and remain in debt. But this is not the problem of CEX or DEX, it's the problem of people who can't manage their money properly.

And can you name the top decentralized crypto? At least 3 points. As I know that all top coins are centralized and can be tracked. And only privacy coins let you remain more or less anonymous. And top privacy coin is only Monero.

Exactly. You can't lose if you only put a small amount of coins in an exchange. Unfortunately, most people believe CEXs are reliable custodians like banks so they leave their coins and forget about the rest. Convenience goes on top of everything else, right? Because of this, we should expect another major crypto exchange from collapsing in the future. This simply can't be avoided.

At least, it's not that bad. CEXs may be a constant victim of hacks and closures/seizures, but they often have good liquidity and unmatched performance. DEXs are safer but they have low liquidity and are often expensive to use (due to increasing network fees). Which exchange to use is entirely up to you. As long as you act responsibly, there should nothing to worry about. :)

This is good advice but not really recommended because the safest thing you could do is save your cryptocurrencies in your personal wallet and no 3rd party exchanges are involved because they have their own owners and are prone to hackers and scammers. In order to protect your crypto especially when you have a huge amount of it, you need to acquire a hard wallet that has some good security and convenience to use because you gonna save your crypto there for a long time when you want to save and hold certain coins for long term.

What good does it make to use a hardware wallet when you'd need to eventually move your coins for trading? The security lies in the exchange itself. Not your wallet. Your best bet would be to only send the amount your willing to sell in a centralized exchange. For large amounts, decentralized exchanges (DEXs) would be the way to go.

People just need to follow proper security measures to avoid losing it all in an instant. It's just that the majority is not willing to put their time and effort to do this. Everybody wants "the easy route". Convenience goes on top of everything else, right? Hopefully, people will realize CEXs aren't as safe as they claim to be. As long as decentralization wins, nothing else matters. ;)

So true, that's why i have been spreading my assets into the several exchange sites and im not obviously putting 100% of my assets on the exchange sites. To be honest if im so lazy in sending back my funds back to the my wallet and that's my reason why i kept em on exchange sites. it's making me feel easy to manage it. Moving it out from exchange site is not too complicated and it needs a few seconds or minutes but i must say that if lazyness has become the main reason why most of people are not sending back their money to their wallet. I don't know why but this is happening to me too. Your suggestion was making sense but sometimes people are only centralizing their funds on the bigges site like binance due to the liquidity problem.

After the collapse of FTX, many people have realized the importance of their personal wallets or decentralized exchanges (DEX). For sure, I will not keep my assets on centralized exchanges (CEX) and will transfer my assets to my personal wallet. As for the platform you mentioned, I haven't quite grasped whether it's a personal wallet or a DEX?

Trading on dex from a non custodial wallet is the best security wise but they have their own challenges. They are limited with coins that you can trade, they may lack volume too and in the process of trading, bots can outrun your trade with high slippage. The biggest problem of them is bridging between chains to trade, for example, if you want TRX and you have ETH, you will have to bridge in between chain to be able to swap between TRX and ETH or any other altcoins. Some bridges are not also safe, you can lose your funds if you communicate with the wrong contract execution.

Each exchange have it's own advantage and disadvantages but for non traders, there is no any reason to keep your coins on exchanges, personal/non custodial  wallet is the best of them and if you must trade everytime, don't put all funds in a single exchange.

I'm sure that's not the case. All people have already forgotten about the FTX crash and continue to keep their funds on other CEX. If we look at their reports, there are more than 50 billion dollars stored on binance. Long before FTX there was MtGOX.

Personally, I would say FTX collapse is a blessing in disguise because if not for that, the subject of regulation might perhaps not have surfaced till date. I think regulations is what has been missing all this years hence the reason why some exchanges could just overnight announced that they are bankrupt. Taking the traditional financial institution for example where banks are under regulations from the various central banks, it's hard to hear issue of a bank collapsing with users money because there is a certain amount of deposit to be made to this bodies to ensure customer funds are safe and I think government bodies have realized this hence the reason for many countries now implementing regulations of crypto which is a welcome idea. Although crypto is meant to be decentralized but we cant ignore the importance of cex in ensuring noobs are able to buy crypto because not many have good knowledge of Dex. Am a bit surprised to see that some exchanges are reluctant to be regulated for reasons best known to them. However some exchanges have shown commitments towards been regulated which is a good sign that will give users peace of mind in keeping their assets on such platforms.

Crypto regulations come with both advantages and disadvantages, but given recent events, I believe they are a necessary step. I commend platforms such as Bitget, Binance etc  for their commitment to transparency by publicly disclosing their Proof of Reserves. The former, in particular, offers an additional layer of security through its protection funds, which are currently valued at over $300 million.

If you speak about the Utopia P2P - there's a wallet within the soft and they also have a decentralized no KYC Crypton exchange. That's very convenient when you have everything in one place. I just wait for the day when they'll add more assets to their exchange and it will be perfect.

I no longer worry about centralized exchanges. Since the FTX incident, traders have surely found their own ways to protect their assets, such as storing them in hot wallets, cold wallets, or diversifying their assets across centralized exchanges.

But there were also doubts about whether these funds were actually held by them as collateral. In fact, we can never know 100% how things are inside the exchange. Therefore it is better to keep the money in your wallet.

Exactly. The FTX collapse is history. People forgot all about it, and moved on with their lives. CEXs will still be around with us for quite some time, since they're the main "gateways" from both the crypto and Fiat worlds. Governments can keep track of illegal actvities involving crypto thanks to CEXs. With DEXs and privacy coins, it's almost impossible to do that. These solutions are widely unpopular due to their steep learning curve. Not everyone is willing to learn and take responsibility of securing crypto funds.

CEXs are easy to use, cheap, and fast. It's this reason why they're still afloat. I've read rumors of an "FTX comeback", so things might turn in the right direction soon. Who knows if the defunct exchange turns into a hybrid platform (centralized + decentralized) in the future? :)