How do Cryptocurrency Exchanges work? Risk discussed

Published: 01 January 1970
on channel: Bits Be Trippin'

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With the latest CEX (Centralized Exchange) having just recently failed, I have been asked multiple times to talk architecturally how Cryptocurrency Exchanges function and at least at a high level, how what is the custodial risk, not just from hackers, but from a range of other internal controls and business aspects that can create extreme risk for people buying/selling from the exchange. Let's get into this whiteboard session in a mostly engineering discussion tailored for anyone out there can understand.

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