CENTRALIZED EXCHANGES ARE COMING ONCHAIN

Summary from the TLDR Crypto newsletter

CEXes like Coinbase, Binance, and Bybit are going on-chain with hybrid products that blend DEX access and institutional safeguards. Coinbase offers Base-native swaps and KYC-gated Verified Pools, Binance Alpha curates early-stage tokens across chains, and Bybit's Byreal uses Solana for RFQ-style pricing and yield layers. These moves position CEXes as trusted gateways into permissionless markets while retaining Web2 UX.