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Nov 16, 2022
CZ Binance Outlines Six Standards for Secure Centralized Exchanges
Following the collapse of competitor exchange FTX, Binance CEO CZ outlined the six most fundamental standards that all centralized exchanges should embrace in order to guarantee confidentiality.
CZ Standards For Centralized Exchanges
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.
Funds For Projects Impacted by FTX Demise
Zhao 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 FTX's problems.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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