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by web3isgoing
1301 days ago
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One failure of FTX and BlockFi is that users had no way to ensure that the centralized custodian was not running off with their on-chain deposits by directing them into unsound deposits. Vitalik is suggesting a cryptographic mechanism here that would provide better transparency as to on-chain activity of a CEX. Day traders want to trade, no matter how much you try to tell them their trades are fictional or "have no use cases." |
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