Hybrid, non-custodial exchanges could help restore industry trust in crypto but CEXs remain key for onboarding new users.
Centralized cryptocurrency exchanges (CEXs) are still the key to attracting more mainstream retail adopters as the industry moves on from the notorious collapse of the FTX exchange.
Despite the collapse of the FTX exchange, which caused at least $8.9 billion in lost user funds, CEXs remain the first layer of interaction for retail adopters buying their first cryptocurrency.
The next 100 million retail adopters will likely onboard the industry through CEXs, according to Ruslan Fakhrutdinov, the founder and CEO of cryptocurrency trading platform X10. Speaking exclusively to Cointelegraph, Fakhrutdinov said that centralized exchanges would likely drive user adoption:
