Exchanges Need To Disclose Trading Info To Users – FatMan

• FatMan tweets about the requirement for transparency with regards to user trading.
• Binance CSO affirms that trades are made to maintain market equilibrium.
• FTX incident places doubt on the trustworthiness of exchanges.

Cryptocurrency fan FatMan took to Twitter to express his views on the need for greater transparency around trading details of user accounts in response to Patrick Hillmann, Chief Strategy Officer of Binance.

Hillmann’s tweet declared that Binance never hunts user stops or liquidation prices and any trades made are to sustain market stability or reduce slippage.

FatMan responded by suggesting that a good start would be to publish details on the internal accounts, such as what they trade, the quantity, the profits etc.

The crypto enthusiast clarified that he understands the profit-making nature of exchanges, yet believes that asking for transparency with user accounts is reasonable. He remarked, “We trade against you, but not aggressively” and, “we try to make profit, but not too much profit” is true for crypto exchanges.

The FTX affair has made it hard for the crypto community to give exchanges the benefit of the doubt. FatMan suggested that disclosing general audited info such as pairs traded, periodic volume & profit would be sufficient to get an understanding of how much the internal desk affects the market. He added that sharing trades or strategies may not be necessary and complete secrecy is worse than both.

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