agreed. like it or not, these exchanges have helped put more BTC in self custody than any other force in the space. seems many would rather opt to be resentful of them, for not being perfect, rathen than grateful to them, for helping ordinay people access a liquid market of BTC.
Oh I do want Binance to perish, just not like this. My bet is Binance exits the US, and they pay only a fraction of the $4B - taking refuge in China. Untouchable. Of course this news, of not honoring the US fine would never merit a press briefing. Or alternatively, the US doesn't expect them to really pay the full 4B. The true objective may be to set a public narrative against "crypto". TerRoRiStS and all that.
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they're pushing out entities that have grown and established themselves organically, in favour of more state captured entities like Blackrock, et al. custodial exchanges mightn't be the ideal means to facilitate trade, but if we're to be philosophically consistent, we should favour decentralisation amongst exchanges, as much as anywhere else..
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