The sudden collapse of FTX which sent shock waves across the crypto space has spurred Telegrams founder to come up with the idea of building a cryptocurrency exchange and wallets.
Pavel Durov, the founder of Telegram has announced a new venture that is aimed at rectifying the existing centralization of cryptocurrency entities which has let down millions of users citing the FTX debacle. Durov on November 30 through his telegram page said;
Telegrams next step is to build a set of decentralized tools, including non-custodial wallets and decentralized exchanges for millions of people to securely trade and store cryptocurrencies. This way we can fix the wrongs caused by the excessive centralization, which let down hundreds of thousands of cryptocurrency users.
He however posited that the existing blockchain ecosystem has moved away from its founding principle which is the promotion of decentralization.
Source:
https://mycryptoparadise.com/telegram-to-build-a-decentralized-crypto-exchange/