Ethereum requires a massive 32 ETH to stake as a result about 64% of all staked ETH is with centralized entities and exchanges . If most exchanges don’t turn out sustainable or are obliged to listen to their government. What does it mean for ETH and crypto?

I'm sorry if this has been asked before but I can't find an intelligent answer without it being called FUD. I'm not spreading FUD just looking for an answer.

After the merge , ETH requires a minimum of 32 ETH which is a lot for the average investor. As a result exchanges and other platforms are being used to stake ETH. This is clearly a case of "Not your keys , not your coins"

64% of staked ETH controlled by 5 entities

Lido Finance 31 %

Kraken 8.5%

Coinbase 15%

Binance 6.5%

While a fifth unlabelled group of validators holds 23% of staked ETH. –Source

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With the recent FTX crash and Binance FUD going on , let's consider the worst. If all exchanges turn out unsustainable or regulations make exchanges comply to their government for what ever reason. What does it mean for ETH and crypto ?