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Rails launches with $6.2M round for its decentralized FTX alternative
Rails, a decentralized crypto exchange, has raised $6.2 million in attempts to fill the void FTX left behind after crashing in 2022, the startup’s
Rails, a decentralized crypto exchange, has raised $6.2 million in attempts to fill the void FTX left behind after crashing in 2022, the startup’s co-founder and CEO Satraj Bambra exclusively told TechCrunch. While FTX had a plethora of problems, Rails highlights its customer deposit safety as well as the crypto derivatives, or perpetual futures side of trading; something that institutions have been missing since Sam Bankman-Fried’s exchange went defunct. And typically investors and users alike trust banks, financial institutions and exchanges to hold their funds, but Rails is going the self-custody route, which means the owner of the assets has total control over them.
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