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

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

What truly happened is that one firm didnt get a selected license by a deadline in a single regulatory bloc, while 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 back within months which is nearer to firm briefly dropping allow in a single region than the CEX mannequin is lifeless.

Examine it to what an actual systemic event seems to be like m, FTX as an example where funds have been gone,no one's out any money here. The worst case for most users is to make use of kraken or coinbase for a number of months lol which is an inconvenience, (not disaster)

The self custody argument is an effective argument on its own merits and it just doesnt want this occasion to be greater than it is to be true,the fact that funds are protected and withdrawable is binance's system working as meant beneath a licensing failure

Solely place I might half concede when 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 occasion 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.

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