Too Long; Didn't Read
Some protocols offering fully decentralized options have reported a near 75% increase in users following the FTX collapse. DeFi protocols and decentralized exchanges (DEXs) have seen a stunning uptick in users. FTX was able to mitigate business losses by secretly using customer-deposited crypto assets to cover its ever-expanding hole. While investors believed their assets were safe, they were in reality slowly evaporating behind closed doors. DeX-centric platforms cannot operate in this way as they are run by auditable smart contracts rather than individuals susceptible to greed.