
Life in Crypto After FTX
What Goes Up
Is There a Separation of Custody and Exchange in Crypto?
In crypto, your balance is held by the exchange itself. In equities, it's in a brokerage account; NYSE or NASDAQ never actually holds your assets. The reason we've had a separation of exchange and custody is exactly the reason that we saw on FTX. That's an example of the kind of regulatory clarity that we will get in the next 12 months.
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