Anndy Lian raised a key counterparty-risk question in crypto: if a centralized exchange shuts down after taking a $30,000 listing fee, do projects get refunded?

Anndy Lian raised a key counterparty-risk question in crypto: if a centralized exchange shuts down after taking a $30,000 listing fee, do projects get refunded? The issue underscores weak protections and potential losses tied to exchange closures.