Well, if I use some altcoin as a savings account, how is keeping custody over it going to save me when the altcoin owner decides to pull the rug? And 2022 has shown that when it comes to Ponzi-schemes, raising interest rates means harvest-time.
I think there's room for what looks like legit player like Coinbase, a HN unicorn, in addition to decentralized exchanges.
People who want to go into crypto need an on-ramp / off-ramp like Coinbase.
Coinbase claims actual people really deposited at least $44 billion USD and that these USD are used to back the USDC stable coin emitted by Coinbase 1:1. But that doesn't tend to be mentioned here.
Coinbase's stock rose 20%+ after FTX's scam was exposed. So there are actual people out there thinking that, no, this is not the end of crypto and that Coinbase will actually benefit from the FTX and BlockFi (and hopefully many other) scammers' downfall.
I wish tether/iFinex/Bitfinex would die a quick and painful death and Coinbase were to completely replace them.
To me there's room for legit centralized players and I sincerely hope Coinbase is one of them and I wish them the best.
Keep your coins off 3rd party exchanges and 99% of this drama disappears.