Binance founder Changpeng Zhao (CZ) has proposed a dark pool decentralized exchange (DEX) to address the vulnerabilities of current cryptocurrency trading platforms. He argues that public order book visibility exposes large traders to front-running and MEV attacks, leading to heightened risks and losses. CZ’s proposal is driven by a recent $100 million liquidation suffered by crypto trader James Wynn, which serves as a stark reminder of the shortcomings of transparency in DeFi environments. His vision calls for implementing on-chain dark pools using ZK (zero-knowledge) technology to conceal order details. This would prevent malicious actors from tracking and exploiting trades, offering greater protection against manipulation. The concept echoes traditional financial market mechanisms where dark pools offer privacy for large transactions while ensuring anonymity, a model CZ believes could be implemented effectively on the blockchain.