Having a safe CEX: proof of solvency and beyond

Re:Having a safe CEX: proof of solvency and beyond by pa7x1 on Monday November 21, 2022 @07:02AM (#33691622)

It's partly a UX thing, uniswap can be expensive at certain times. This is beind worked on actively with rollups. But there is still more work to do.

It's partly also because you have to bridge from traditional finance to cryptocurrency somehow. Many of these centralized exchanges are allowing that bridging. Usually that would involve meeting strict banking and KYC regulations. FTX decided that was too much of a hassle and incorporated in Bahamas to avoid it.

[ Parent | on HN ]

Re:Having a safe CEX: proof of solvency and beyond by newswasboring on Monday November 21, 2022 @07:10AM (#33691674)

I feel like the whole KYC and liquidation to fiat should be handled by token issuers and not exchanges. USDT should be responsible to give me cash USD, not binance or coinbase.

[ Parent | on HN ]