Your assets have been locked with "three locks"; an FTX-style tragedy may become history 🔒
This is the most crucial point of this reform! The three companies mentioned in the announcement (Nest Exchange, Nest Clearing, Nest Trading) sound complicated, so let me translate for you:
Nest Exchange Trading Matching:
Provides a trading venue for you to buy and sell spot and contracts.
Nest Clearing & Custody Clearing, Settlement, Custody:
Specifically responsible for settling funds for you and independently safeguarding your digital assets.
Nest Trading Over-the-Counter Trading, Wealth Management:
Responsible for bulk trading, instant exchanges, wealth management, and other value-added services.
Why is this a significant benefit?
Do you remember the shocking thunder of FTX? The root cause was that the exchange mixed its own funds with those of users and misappropriated them at will. However, Binance's reform this time is to forcibly build a wall between the exchange and the users! The company responsible for trading matching cannot touch the assets you have entrusted. Your money is independently and securely locked in the "vault".
In simple terms: through the separation of duties, the risk of platform malfeasance or user fund losses due to mismanagement has been greatly reduced.