These CEXs only hold as much power as WE give them.

Why is a sizable number of people ignoring Ethereum DEXes in favor of CEXes?
Rumors about Binance being insolvent are floating around CT. And regardless of the fact that these rumors are probably just that, rumors, Binance (or any other centralized exchange) should have never had this much power over the market.

Binance is technically controlled by a single man (CZ) meaning that one person has the power to make or break the crypto market.

This is far from what Vitalik and Satoshi planned for.

Satoshi wanted to get rid of government control over monetary supply, and Vitalik wanted to create an ecosystem that will end up helping us self govern through DeFi and DAOs.

We already have DEXs Uniswap, Pancakeswap, and there are Ethereum based organizations like Bitdao investing hundreds of millions of dollars into new DEXs like ApeX so there’s really no shortage of any sort of decentralized exchanges out there on the market.

The fact that we’re being lazy and purposely relying on centralized exchanges is the problem. This is exactly why exchanges like Binance pose a huge threat for the market because in a scenario where it fails (though unlikely) the entire market could go down with it

START USING DEXES INSTEAD OF CEXES