I guess this might be a nitpick, but I don't think most cryptocurrency exchanges do function like "traditional financial exchanges." They seem to operate more l

I guess this might be a nitpick, but I don't think most cryptocurrency exchanges do function like "traditional financial exchanges." They seem to operate more like a combination of exchange and brokerage. I'm not an expert but I don't think "traditional financial exchanges" hold assets to be traded on behalf of customers. I think they are just meeting points for traders, and they host the public order book.