By Rashid Ali, co-founder and CEO of Exarta.
He says: “As the crypto market plummets due to Binance not going ahead with taking over FTX, it opens up the age-old question around trust. And at this moment, from what we gather, FTX haven’t been really honest about how they have been using customers’ funds, without their knowledge I must say.
“There are many exchanges who have been operating for many years successfully, yet the FTX juggernaut didn’t play by the rules and they ultimately paid the price alongside many customers who could lose their funds.
“There is always an argument about centralisation and decentralisation. I personally think the talk needs to be around some sort of regulation to ensure the exchanges do not mishandle the funds they have.”