While this statement exposes the author's ignorance of blockchain, it also reflects the biggest contradiction in the crypto today—centralized exchanges. Although assets in exchanges have on-chain reserve proofs, the data in exchanges is a bottomless abyss. Users' assets are in this huge pool of funds in the exchange, and they cannot see how the funds are being used. Since the rise of Hyperliquid, people have seen new trends and hope. I believe that in the next bull market, an innovative spot DEX will emerge, disrupting the current industry landscape and making BTC great again.

😂I don't know if this person is genuinely stupid or not...a normal person wouldn't think of this angle, right?

Seeing how seriously he analyzes all this, he might actually be a fool.