It’s surprising how underdeveloped some parts of the crypto market still are — especially when it comes to how centralized exchanges (CEXs) operate.

Even after the recent situation involving $OM (Mantra), there’s barely any serious conversation happening around leverage policies and risk mechanisms on these platforms. This is a critical issue, yet most major exchanges and key market players remain silent.

We should be seeing urgent efforts from CEXs and leading voices in crypto to revisit and reform these outdated systems. But instead, most people are brushing it off — as if hoping investors will simply forget.

Yes, there have been talks in the past about the dangers of excessive leverage, but nothing has truly been addressed at a structural level. That might’ve been understandable before any major incidents occurred, but after what happened with Mantra, there’s no excuse for inaction.

Do we really need another token to collapse before the community takes this seriously?

With crypto moving toward mass adoption and gaining attention from governments and large corporations, now is the time to implement investor protections. We have the opportunity to build a safer system — but it will require strong support from influential figures in the space.

Unfortunately, it looks like most won’t speak up until the next disaster forces them to.

If we don’t fix these broken mechanisms, we’re simply waiting for the next crisis to happen.