Exchanges pledged $2.5B to user protection funds amid FTX’s collapse: Report

The Nansen researchers composed:” Proof of Reserves should become the minimum basic in the exchange market, However, as stated above, these are both favorable indicators for an exchange however do not ensure its solvency. Bitfinexs trading volume fell the most, dropping 59.5% to $5 billion in the same period.Although many exchanges have user security funds, not all have divulged their on-chain addresses. Source: NansenAs for crypto derivatives, all exchanges saw decreases amidst FTXs collapse except for Bitget, whose typical six-month trading volume increased by 4.85% sequentially to $204.1 billion.

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