To defeat centralization, the crypto user experience has to be easier: Synthetix founder
FTX, the notorious bankrupt crypto exchange, had some good things going for it. It was widely popular for its ease of use and friendly onboarding process, with plenty of trading options to choose from in a smooth interface. Just one small thing stood in the way of its long-term success. Everybody’s funds were lost. Many crypto services have failed in one way or another, resulting in losses of customer funds; QuadrigaCX, Mt. Gox, and Bitfinex, to name a few. But don’t forget other more mainstream establishments, like banks, that also collapsed and left customers reeling: Silicon Valley Bank, Silvergate, and First Republic, or further back in time, Washington Mutual and Wachovia. In many of these cases, some or all client funds were recovered, but a sudden loss of access to one’s money is, at the very least, a harrowing experience . It all boils down to one issue: centralization. Anyone in the crypto scene hears the word multiple times a day, but it truly is the key problem wi...