According to @ThinkingUSD, most centralized exchanges (CEXs), except for Coinbase, operate internal trading desks that could potentially use trader position data for their own benefit, affecting the fairness of trade execution and increasing the risk of targeted liquidations or price manipulation (source: @ThinkingUSD on Twitter, May 30, 2025). This highlights a critical risk for crypto traders who believe position privacy is ensured on CEXs, reinforcing the importance of exchange transparency and the ongoing relevance of decentralized exchanges (DEXs) for those seeking unbiased trading environments.