Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Galaxy on October 03, 2020, 07:28:42 PM

Title: Should DEXs Be Worried After BitMEX? DeFi Founders Weigh In
Post by: Galaxy on October 03, 2020, 07:28:42 PM

The sudden takedown of BitMEX has cast a new light on Ethereum’s decentralized finance (DeFi) markets.

On Thursday, the U.S. Commodity Futures Trading Commission (CFTC) and Department of Justice (DOJ) served the Seychelles-based crypto derivatives exchange with a slew of charges, arresting CTO Samuel Reed and seeking out CEO (and admitted DeFi degen) Arthur Hayes for violating the Bank Secrecy Act.

While centralized exchanges (CEXs) reside on central servers in various municipalities around the globe, decentralized exchanges (DEXs) like Uniswap remain uncensorable, existing within smart contracts on top of the Ethereum blockchain. However, they are founded by real, live humans who are subject to the whims of law enforcement agencies. Are they next?
Info Link: https://www.coindesk.com/should-dexs-be-worried-after-bitmex-defi-founders-weigh-in

Title: Re: Should DEXs Be Worried After BitMEX? DeFi Founders Weigh In
Post by: auntyjmary on October 04, 2020, 01:55:58 AM

One of the things that have sustained the crypto industry and the whole journey of exchanges  has been decentralization. We need more of decentralized applications, am always comfortable exchanging my coins on the decentralized wallet from atomicwallet.io  than sending my funds to external exchanges which are vulnerable to attacks.