CeFi, or Centralized Finance was created to do investment in crypto while all crypto trade is managed through a central exchange. That means the user does not require to own a private key that gives the user access to their wallet.
CeFi vs DeFi
In between CeFi and DeFi wallets, it is clearly understandable that a DeFi wallet gives the custody of wallet to its user which means the user has full access and control of their private keys. On the other hand, CeFi does not provide complete ownership of crypto when it is stored in any wallet.
How Top-5 CeFi Platforms Are Working After FTX Collapse?
Nexo: More than 5 Million worldwide users, with 60+ supported cryptocurrencies. It recently clarified that it has $0 net exposure to FTX and Alameda. And as a conservative institution with stringent risk controls Nexo has safeguarded all funds by withdrawing its entire balances from the exchange over the past few days.
.@Nexo has $0 net exposure to FTX/Alameda. As a conservative institution with s
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