Crypto subsidiary of US-based trading giant DRW Holdings Cumberland officials think that there will be big changes in the crypto industry structure after FTX goes bankrupt.
Cumberland Head of Commerce Jonah Van Bourgfrom the company’s Twitter account. FTX He shared his thoughts on the bankruptcy of the stock market and the future of crypto trading platforms.
Last week was Cumberland’s most active week ever. Beneath the chaos and explosive volumes, the FTX bankruptcy has triggered some important market structure changes
— Cumberland (@CumberlandSays) November 14, 2022
“Last week has been the busiest in Cumberland history. The bankruptcy of FTX will lead to significant changes in the market structure.”
Van Bourg, of crypto platforms in the process until the bankruptcy of the FTX exchange. “all services in one center” stated that he adopted the concept. Spot trading on cryptocurrency exchanges, borrowing, staking, futures, mining and more recently NFT The opening of marketplaces supports Bourg’s rhetoric.
The Cumberland executive believes this will all change, with the giant crypto exchange going bankrupt within a week. Van Bourg announced that in the coming period, crypto exchanges will abandon the strategy of keeping their assets in a centralized area.
In the traditional financial sector, users’ assets (currency) are not kept on stock exchange platforms.
“After FTX’s bankruptcy, investors may not want to entrust their money directly to the stock market. Exchanges will start holding their assets on a third liquidity provider that will be the guarantor.”
One of the most popular cryptocurrency exchanges of recent years FTXofficially declared bankruptcy last weekend. The failed exchange has yet to fully return its clients’ funds.