Don't let the schadenfreude and confirmation bias get to you. Centralized exchanges never had anything to do with the value proposition of cryptocurrency. And t

Don't let the schadenfreude and confirmation bias get to you. Centralized exchanges never had anything to do with the value proposition of cryptocurrency. And trading on them is just speculation with no relation to crypto. It's what gets views in the press, though. Whenever news like these occur there is always a bunch of "I knew it would all fall down" self-validation comments in HN. Yet it really doesn't fall down, after over a decade. Perhaps it's time to consider that you are looking at the wrong thing and barking at the wrong tree. Of all these collapses there is 0 decentralized exchanges (i.e. on-chain) involved. Pretty much because they can't, by design. That's the value proposition. Unstoppable exchanges, transparent, publicly verifiable, highest availability. What you have seen all this year is more and more validation that centralized finance is problematic by design (3AC, Celsius, BlockFi, FTX...) while decentralized finance comes unscathed (Uniswap, Aave, Curve, MakerDAO...).