You’re confusing things. Centralized exchanges like FTX are acting as asset custodians in the same way as a bank, or a stock broker. FTX is not a cryptocurrency

You’re confusing things. Centralized exchanges like FTX are acting as asset custodians in the same way as a bank, or a stock broker. FTX is not a cryptocurrency. Crypto users that espouse freedom from government are usually talking about being able to use crypto, on chain, without government interference. They don’t want to be taxed for using bitcoin as a currency, be able to use decentralized services without complex regulations and tax laws, etc. etc I’ve never heard the case made that asset custodians should be able to steal assets from their customers regardless of the underlying asset.