What does "CEX" mean in the context of cryptocurrency?

CEX stands for "Centralized Exchange" in the context of cryptocurrency. These platforms act as intermediaries facilitating the trading of cryptocurrencies, where users can buy, sell, or trade various digital assets. Centralized exchanges are managed by a specific company or entity that maintains full control over the operations, including user accounts and transactions. They operate much like traditional stock exchanges, providing users with features such as advanced trading tools, customer support, and sometimes fiat-to-crypto exchange services. Users must trust the CEX with their funds and personal information, as all trades are routed through the platform's centralized system. Examples of well-known CEXs include Coinbase, Binance, and Kraken.