I'm a little bothered by this actually. If the only crypto exchanges running are the ones which are owned by Changpeng Zhao and Jay Hao, just by the sound of these names, I would already be a bit troubled that the Chinese hegemony has already infiltrated cryptocurrency.
meh, i've been hearing this sorta "china phobia" since 2013 when most of the hash rate migrated there. people used to bitch and moan that the chinese exchanges ran the whole market too. this was years ago.
i don't see any harm done. i think the financial incentives built into bitcoin, cryptocurrencies, and the exchange business generally keep us well protected from any sort of nefarious conspiracies. if anything, the ecosystem is becoming more resilient all the time, year after year.
I'd rather see the crypto field without monopolies. I'd rather see thousands of relatively smaller crypto exchanges evenly scattered all over the world on more or less equal footing rather than the small ones dying one after another and only a handful giants remain.
i love small businesses, but one issue we need to consider is liquidity---traders need thick order books to obtain adequately sized positions and to avoid slippage. that's why most of the global exchange volume will always gravitate towards a handful of the largest exchanges. every once in a while those top exchanges get shuffled around but the dynamic never really changes.
