Quote from: Charles-Tim on February 15, 2025, 03:40:23 PM

Quote from: MarvieJ on February 15, 2025, 03:29:21 PM

What do you guys think? do protection funds really mean anything, or are they just another tool for exchanges to gain user trust without real accountability

What I can agree more about is that the exchanges are using it to have customers trusts and to have more customers to use their exchange. I remember Bitget used this tactic last year to have more customers.

The money that you do not have full control of, do not trust. There could be a disappointment.

You've hit the nail on the head. Protection funds have become a marketing gimmick for many exchanges, aiming to lure in customers with a false sense of security. It's alarming to see how popular exchanges flaunt these funds as a way to build trust, without actually providing transparency or accountability.
Your point about Bitget using this tactic last year may be or may not be true because I know little about other exchanges, but Bitget i actually followed their Protection Fund Valuation Report announcement for months and i have never seen a foul play for once in my own view. I even saw the recent one on January 22nd that they had an all-time-high of $690 million. Same with some unpopular exchanges.