Market makers are fleeing public blockchains to protect their secret trading playbooks

What Happened

Large cryptocurrency traders are moving to private exchanges to hide trading strategies, similar to traditional finance dark pools. GoQuant launched GoDark, a Solana-based decentralized exchange using zero-knowledge proofs to conceal trade details from market participants and node operators. The platform aims to match orders at 25-50 milliseconds while maintaining privacy. However, challenges include slower speeds than centralized exchanges, difficulty attracting liquidity, and potential regulatory issues regarding audit trails and transparency.

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