No one defends FTX, and in fact people are actually hating on them because a lot has just lost money from using that exchange. This is what we've been saying for years, never leave your money on exchanges and if possible, convert whatever coins you have to cash if you're not looking to trade. What happened to FTX is an example of how a seemingly stable company can crumble to nothingness just because of a few bad decisions that birthed other complications.
Well what happens is that sometimes things are not understood from the background of what happens, it all started with a comment from Binance towards FTX, and that's where everything originated, the losses and millions by FTX were very high, and obviously the clients of the exchange too, so here what is bad is that Binance wants to have a monopolization of everything, and that is bad, the truth is that I do not like that, centralization in crypto will never be good, because the fact that it is a controlled exchange makes everything much more focused on non-anonymity and zero privacy, and also BInance kneels before governments and police entities.
