Following the complete collapse of the FTX crypto exchange, which incidentally filed for bankruptcy and is also under investigation, the entire associated industry has been shaken. All of the decentralized players are in an absolute state of quandary and seemingly clueless about what the next course of action should be. Out of this rather dismal and disappointing scenario, it is Telegram that has decided to take the bull by the horns.
The entity has come out with an aggressive plan to effectively create a decentralized crypto exchange of its own. Besides this, they are also looking forward to the creation of trustless and decentralized options within the periphery.
Pavel Durov, the company’s founder and CEO, utilized the occasion to announce his impending ambitions for the business. He claims that in accordance with the company’s objectives and ambitions, it intends to start building decentralized exchanges and non-custodial wallets.
In his opinion, this will provide the opportunity for all of the users, who happen to be in the millions, to be in a position to carry out trading of their crypto in a safe and secure environment. To further his thought process, he appears to be sincerely in a situation where he believes there will be a possibility of correcting the mistakes associated with overabundant centralization, which ultimately resulted in total chaos in the cryptocurrency arena.