According to a report published by credit scoring agency CCData, in March 2023, 71% of total trading volume will come from top exchanges based on updated ratings, compared to 92% in October 2022. Among them, Bitfinex received an exchange A-level rating and was listed as a top exchange in multiple categories.
Transparency in the centralized exchange industry is increasing. After the FTX crash, 20% of exchanges adopted Proof of Reserve or an alternative.
Exchange KYC practices are improving. According to Ciphertrace, in April 2023, 15% of the exchanges analyzed in the report were considered to have insufficient KYC practices, an improvement from 21% in October 2022 and 35% in April 2022.
Transparency in the centralized exchange industry is increasing. After the FTX crash, 20% of exchanges adopted Proof of Reserve or an alternative.
Exchange KYC practices are improving. According to Ciphertrace, in April 2023, 15% of the exchanges analyzed in the report were considered to have insufficient KYC practices, an improvement from 21% in October 2022 and 35% in April 2022.