Cryptocurrencies have experienced rapid growth, but the absence of regulatory supervision has given rise to concerns regarding transparency. Unlike traditional financial systems, cryptocurrencies lack a central authority, resulting in unclear governance and potential issues. This is exemplified by the problems associated with Initial Coin Offerings (ICOs). The recent crisis at FTX underscores the importance of transparency. While some exchanges are beginning to list assets governed by ethical principles, the path towards establishing accountable governance remains uncertain. Our research delves into how the lack of transparency in cryptocurrency exchanges prompts investors to advocate for accountable governance. We employ an event study approach to examine the impact of the FTX bankruptcy, with a particular focus on activism on Twitter. Our findings indicate that investor demands for transparency encourage exchanges to adopt measures aimed at ensuring accountability, such as conducting Proof of Reserves audits. This shift has the potential to foster a more stable and reliable cryptocurrency ecosystem, ultimately benefiting both investors and the industry as a whole