"TOP-5 crypto exchanges in 2025: who survived after the regulatory apocalypse?"
**📌 2025: Exchanges have changed forever. Where is it safe to trade now?**
🔎 **Selection criteria in the new era:**
1️⃣ **Regulatory dossier**
- After the collapse of FTX 2.0 only **licensed** exchanges with audits (like Binance FCA, Coinbase).
- Do they have a **real office**? (Hello, Seychelles-based scams 👋).