Sam Bankman-Fried took the stand, but it’s really CEXs on trial

The founder of the world’s formerly leading centralized exchange just underwent an excruciating courtroom dissection, ending with a guilty verdict. But this landmark trial also marks a pivotal moment for centralized crypto exchanges (CEXs) everywhere. 

As Sam Bankman-Fried, or SBF, as he’s better known, took the stand last week in his trial for criminal misdeeds at FTX, CEXs everywhere are taking note. Very few CEXs have been run in a way that is as nearly corrupt and criminal as how Bankman-Fried ran FTX. But the general public, and even regulators, aren’t necessarily noting the nuances. That means we’ve entered a new era for CEXs, one with new, higher expectations from a…

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