Centralised Exchanges were the on ramp into crypto for a vast majority of new people in 2020 & 2021. Saying they aren’t needed misses the fact that crypto relies on adoption.

CEX's enable fiat on-ramping into crypto.

If you ask any person new to crypto in 2020, or 2021 they got into the crypto market by way of a CEX. Talk to any veteran about how crypto was purchased before these slick CEX's came along and you quickly understand why so few dabbled in it.

The peaks of 2021 would not of happened without the CEXs in place to seamless get people buying their 50 bucks of Doge or etc whether people like that or not. As without that onboarding of people you don't have the buy pressure.

I'm not condoning the abhorrent behaviour that we have witnessed these last two years, but pointing out the fact Centralised Exchanges cannot be easily done away with. Crypto needs adoption to survive, and right now Centralised Exchanges offer the easiest path to onboarding people.

So much so that the loss of trust in the second biggest 'blue chip' Centralised Exchange will effect any market recovery for years to come.