Exchanges keep dying. 30+ gone in 12 years. July alone just ate three more. AscendEX. BitMEX. BitMart. It started with Mt. Gox in 2014. Then one or two every year. Cryptsy. BTC-e. Quadriga. Cryptopia. Easy to call them one-offs. Then 2022 hit. FTX. Celsius. Voyager. BlockFi. Half the industry gone in months. 2023 did the same. 2026 is already continuing the list. Some were pure scams. Some got hacked. Some just couldn’t survive the rules and the quiet volumes. Doesn’t matter the reason. The pattern is the same. People act shocked every time. I’m not. This space doesn’t forgive weakness. Never did. -Brondor #BTC Price Analysis# $BTC $ONE