Binance EU thing is being framed much more negatively than it deserves

Have been seeing loads of CEXs are basically damaged takes after the binance eu lockout, and I feel thats overreading a very slender occasion.

What truly happened is that one company didnt get a selected license by a deadline in a single regulatory bloc, whereas three of its direct rivals did. Its withdrawals still work and binance itself says its actively pursuing a license in france and expects to be again within months which is nearer to firm briefly dropping permit in a single area than the CEX model is lifeless.

Examine it to what an actual systemic occasion appears like m, FTX as an example the place funds have been gone,no one's out any money right here. The worst case for most customers is to make use of kraken or coinbase for a couple of months lol which is an inconvenience, (not disaster)

The self custody argument is an effective argument on its own deserves and it simply doesnt want this event to be greater than it's to be true,the truth that funds are protected and withdrawable is binance's system working as meant underneath a licensing failure

Solely place I might half concede in case you have been already sitting on the fence about shifting some buying and selling onchain (i havve had a slice on ostium for RWA/FX/gold publicity for a while now, unrelated to any of this), an event like this can be a affordable nudge to truly do it ,simply dont let it speak you into believing the sky's falling on CEXs usually.

Where I feel this will get fascinating is long run,iff Binance is locked out for months and users route round it high-quality, thats truly the bearish case for Binance specifically no matter what it says about CEXs usually.does anyone thinks I'm underrating this although?