At a recent event in Hong Kong, TradFi experts discussed the progress of the crypto ecosystem since the collapse of FTX in 2023, but highlighted the need for further improvements to make the industry more secure. The experts stressed the importance of 24/7 risk management, including market, counterparty, and credit risks. Counterparty risk, in particular, is a major concern in the crypto space due to the absence of intermediaries like banks or clearing houses. Simulating stress testing scenarios and ensuring transparency in innovation were also highlighted as important factors. Additionally, liquidity remains a significant concern, with fragmentation across various platforms and networks being a challenge.



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