CCData's Exchange Benchmark brings transparency and accountability to the digital asset exchange sector. The report is updated twice annually to reflect the fast-changing digital asset landscape and is backed by thousands of hours of research, encompassing more than 200 qualitative and quantitative metrics. 

The latest iteration of the report also includes an enhanced framework for assessing the risk associated with derivatives exchanges.

Key Findings

• In March 2023, 71% of total volumes were from Top-Tier exchanges based on updated grading, compared to 92% in October 2022.
• Transparency is increasing in the centralised exchange industry. After the collapse of FTX, 20% of exchanges have adopted Proof of Reserves or an alternative.
• Exchange KYC practices are improving. In April 2023, 15% of analysed exchanges were deemed to have inadequate KYC practices according to Ciphertrace, which is an improvement from 21% in October 2022 and 35% in April 2022.