There has been a long history of hacks of centralized exchanges in our industry and yesterday Binance suffered the latest hack, losing 7000 BTC (~$40M). It's unclear where the breach occurred, but what is clear is that centralized exchanges still represents a major vulnerability in our industry. The promise of the non-custodial model that decentralized exchanges (DEXs) offer is to reduce the counterparty risk for users and strengthen the security backbone of the industry. We'll be talking about the future of DEXs and much more at Token Summit in NYC next Thursday. Get your tickets for a 20% discount here.