Digital Asset Research Announces July 2023 Crypto Exchange Vetting Results

DAR’s vetting processes bring institutional-level diligence to crypto markets and the latest vetting process results in 18 Vetted Spot Exchanges and 11 Watchlist Spot Exchanges

New York, NY, July 13, 2023 – Digital Asset Research (DAR), a leading provider of crypto asset data and research, today announced the release of its July 2023 Crypto Spot Exchange Vetting results. In an environment where cryptocurrencies trade across hundreds of lightly regulated or unregulated exchanges, DAR’s vetting processes apply institutional-level diligence to digital asset markets to meet an industry-wide need for reliable crypto data. 

Over 450 centralized spot exchanges were evaluated to identify 18 Vetted Spot Exchanges., BitMEX, Bitvavo, Bybit, GMO Coin Inc., and One Trading were added as new Vetted Spot Exchanges, while the following exchanges continue to be Vetted Spot Exchanges: Bitbank; Bitfinex; bitFlyer; Bitstamp; Bittrex; CEX.IO; Coinbase; Coincheck; Gemini; itBit; Kraken; and LMAX Digital. 

Binance.US and Okcoin are no longer Vetted Spot Exchanges. Binance.US is now a Watchlist Spot Exchange, while Okcoin is not on either list as its trading data has diverged and is no longer correlated with the market. 

Eleven exchanges are now considered Watchlist Spot Exchanges for potential future inclusion on the Vetted Spot Exchanges list: Binance; Binance.US; BTSE; CoinTiger; COINZIX;;; Huobi; KuCoin; LATOKEN; and Phemex.  

The Exchange Vetting process combines quantitative and traditional qualitative due diligence to identify exchanges reporting accurate volumes and eliminate exchanges that are not appropriate for determining an accurate market price. 

Results of the Exchange Vetting process determine pricing sources used to calculate DAR reference prices for institutional clients, including Bloomberg, Chainlink, FTSE Russell, the FTSE DAR Reference Price, Pyth, and Refinitiv.

DAR performs its Exchange Vetting processes quarterly. Results will next be announced in October 2023.

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