In my own assessment, fiat exchanges are just the tip of the crypto iceberg. None of the cozy corporate firms want to go near privacy coins, to name one exampl

In my own assessment, fiat exchanges are just the tip of the crypto iceberg. None of the cozy corporate firms want to go near privacy coins, to name one example. They know that those don't fit into the plan, so they're ignored. But so long as you can exit their exchange, there's a path towards trading them - and therefore a problem for regulators akin to digital media piracy. Bitcoin never set out with the goal of being the currency that literally everyone uses - it had in mind the cypherpunk framing of being underground by default. So it's just totally unsurprising that upon its adoption by the existing power structure, alternatives would pop up. That's not a failing, just a step towards an arms race.