User Fund Safety: What Measures Really Matter?

[Smilezcryt]

The FTX scandal has shaken the trust of many in centralized exchanges (CEXs). In response, CEXs are taking steps to reassure users. One approach is the creation of protection funds, like Bitget's.

Bitget's fund, initially $300 million, has grown to an average of $424 million. This demonstrates a commitment to safeguarding users' assets from threats like hacking, fraud, and market fluctuations.

What are your thoughts on such protection funds? Can they effectively mitigate risks and restore trust? What standards should CEXs meet to ensure asset protection and transparency? More details here

https://www.bitget.com/support/articles/12560603815233