"These tokens offer perks like discounts on trading fees and access to exclusive benefits or promotions. Their prices sometimes rise, providing opportunities to sell for profit."
"Exchanges control those tokens outright... unlike cryptocurrencies governed by blockchains, exchange tokens can have their terms and benefits changed at any time without notice."
"When you buy those tokens, you're essentially subsidizing the exchange. Many exchanges sell tokens to cover liabilities or fund operations rather than generating profit from their services."
"With DeFi protocols, you don’t even need a trading arm. Exchanges can’t verify circulating tokens or unravel their complex transaction histories, raising transparency concerns."
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