Following the collapse of competitor exchange FTX, <a href="https://www.cryptoknowmics.com/news/binance-launches-recovery-fund-for-crypto-projects-facing-liquidity-crisis">Binance</a> CEO CZ <a href="https://www.binance.com/en/blog/from-cz/six-commitments-for-healthy-centralized-exchanges-2882536671495731236" target="_blank" rel="nofollow noopener">outlined</a> the six most fundamental standards that all centralized exchanges should embrace in order to guarantee confidentiality.
<h2>CZ Standards For Centralized Exchanges</h2>
According to CZ, the following six guidelines assist in maintaining the security and safety of centralized exchanges for users. The exchange encourages its participants to make the same commitment, and it is eager to participate in this conversation with businesses, government officials, and the public.
<ul>
 	<li>Be cautious with user money.</li>
 	<li>Never utilize native tokens as security.</li>
 	<li>Share tangible evidence of your holdings.</li>
 	<li>Maintain robust reserves.</li>
 	<li>Keep your leverage reasonable.</li>
 	<li>Boost Security Protocols and Implement them.</li>
</ul>
<h2>Funds For Projects Impacted by FTX Demise</h2>
<a href="https://www.cryptoknowmics.com/news/binance-ceo-zhao-is-considering-acquiring-banks-report">Zhao</a> stated that the image of this business, which is still developing, cannot be tarnished by a few rogue individuals. The primary responsibility must be to protect users. Zhao urged other exchanges to embrace the six ideas and stated Monday that he is trying to form an industry association to collaborate with authorities worldwide. Zhao said he was attempting to create a fund for projects impacted by <a href="https://www.cryptoknowmics.com/news/ftx-australia-licence-suspended-leaving-30k-australians-stranded">FTX's</a> problems.

CZ Binance Outlines Six Standards for Secure Centralized Exchanges

CZ Binance outlined the six most fundamental standards that every centralized exchanges should embrace in order to guarantee confidentiality.

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CZ Binance Outlines Six Standards for Secure Centralized Exchanges

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