Would like to know where do the popular exchanges register as business. Not where they operate or where there office is based, but rather where the company is registered? I have heard a lot of exchanges are actually incorporated as offshore entity to minimize any legal ramifications when things go wrong.

Also, wonder what if any protection is there for crypto investor? I mean I understand you are suppose to store all crypto on cold wallet but it is inevitable to have crypto in your account on exchange as long as one wants to trade.