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As major players like FTX, Genesis, Voyager, and Three Arrows exit the crypto space, it presents an exciting opportunity for smaller enterprises. This article highlights five innovative startups that could take their place in the industry.Ostium LabsOstium Labs received $350 million in funding from General Catalyst, LocalGlobe, SIG, and Balaji Srinivasan. The company is developing a perpetual derivatives protocol for digital goods, seeking more transparent and flexible alternatives to traditional derivative platforms. This platform will support perpetual transactions with assets like oil, Bitcoin, and major currency forex pairs, aiming to bring real-world assets into the blockchain.JKLabsJKLabs aims to solve governance issues in DeFi and web3 ecosystems by providing a platform that promotes on-chain decision-making and community participation. Instead of traditional token voting systems, JKLabs uses on-chain reputation to determine participants' influence in the governance process, promoting more meaningful and fair participation. The company recently raised $2 million in pre-seed funding.FractalFractal was co-founded by Aya Kantorovich and Alex Elkrief with $6 million to develop a platform that enhances digital asset settlement transparency. The goal is to prevent losses due to company bankruptcies like those of Three Arrows and FTX, allowing customers to monitor their positions in real-time and limit借款 collateral to crypto blue-chip tokens.TurnkeyTurnkey was founded by former Coinbase Custody executives and raised $7.5 million in seed funding. The company aims to provide a developer-friendly platform for protecting and managing digital assets across different blockchain networks. The platform seeks to offer flexible, programmable solutions for generating wallets and signing transactions, addressing the increasing complexity of on-chain transactions.ArchitectFTX.US former president Brett Harrison raised $5 million in funding from Coinbase Ventures and Circle Ventures to start a new company called Architect. The company will focus on providing software trading tools for DeFi that meet the needs of large investors and institutions. Their goal is to develop institutional-grade trading technology, simplifying access for companies, large traders, and individuals to decentralized protocols and centralized exchanges.