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You seems to know a lot about the exchanges. D you think coinmarketcap numbers are real [1]?

The parent comment was about FTX and Binance compared to the other crypto exchanges not to the exchanges in general.

FTX claims to be way more efficient than Coinbase - having only 25 engineers compared to thousands for coinbase. This could be secret of the surviving exchanges - efficiency.

[1] https://coinmarketcap.com/rankings/exchanges/

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Coin market cap volume numbers are known to be easy to manipulate, but exchanges like FTX and Coinbase do not likely engage in these kinds of manipulations as they don’t seek to legitimize themselves through nonexistent volume anymore. But the lesser known exchanges that appear on there are likely pumping their numbers.

I have heard Coingecko’s ranking eliminates some of the volume pumping tricks but have little to back up that claim: https://www.coingecko.com/en/exchanges

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