https://www.politico.com/newsletters/morning-money/2022/10/2...
For a cryptocurrency owner taken at random, I think it's likelier that they make a mistake with their private key than they lose tokens held in a Coinbase (or another CEX among the less dodgy, regulated, etc.) account.
Exactly. I've long wondered if there's any way to overcome this without essentially going back to a 'trusted broker/custodian' model
If many people in this space are advocating for decentralized exchanges, how come everyone uses centralized ones?
If there's ever a time and place for voting with your wallet, this seems to be it, and the wallets are speaking loudly and clearly.
A lot of people put money on CEX because they are ignorant, or willing to take on some risk for slightly cheaper and faster trades. Those people probably regret their decision now. If they used Uniswap and Aave they could not have withdrawals paused because of one company’s insolvency.
Convenience.