How Custodians are Changing the Games for CEXs
Since FTX’s collapse in 2022, crypto market makers and asset managers have rapidly cut exposure to CEXs.

Since FTX’s collapse in 2022, crypto market makers and asset managers have rapidly cut exposure to CEXs.
The president of Jump Crypto said a “false messiah captivated an audience broader than ever before.”
Irrespective of the analytical lens you choose, you might feel that the recent FTX debacle's impact is heavier than other unfortunate past incidents.
After the FTX and Binance saga, crypto exchanges are left scrambling to publicly release their proof-of-reserves audit; some have done so, some intend to.
In the wake of the downfall of SBF’s FTX exchange, crypto traders are increasingly turning toward DeFi protocols – as ETH tokens flow off big CEXs like Binance and OKX.
Web traffic on FTX surged 123% YoY, while major exchanges like Coinbase and Binance were down 46% and 40% traffic-wise, respectively.
Data points to capital flight among most major DeFi protocols.