Patrick Hillman, director of strategy at Binance , said that the company may cease to exist in 10 years because the cryptocurrency market is moving towards DeFi.

This might sound like a stretch but honestly I wouldn’t be surprised. CeFi is proving itself to be a failed experiment. A virus that invaded a market built around the concept of self custody, decentralization, and self governance.

No one knows what will happen in 10 years time but I don’t see why people will start shifting from CeFi to DeFi completely.

The whole reason people used CeFi in the first place was convenience and low fees as opposed the ultra high Ethereum gas fees.

However, these two issues are almost fully resolved making a shift mass shift towards DeFi a much more logical decision than staying on these lying, corrupt centralized platforms.

Many DeFi platforms are becoming much more intuitive and easier to operate so that gets rid of the first issue.

The second issue, gas, is almost completely irrelevant now with L2s becoming more and more popular.

Not only are the older L2s getting better, but even some of newer ones like Mantle are showing hyper-scaling abilities in efforts to to make the Ethereum ecosystem more streamlines. Not only that but Ethereum based decentralized organizations invested a lot into it.
Taking all of this into consideration, there’s really no excuse to choosing CeFi over DeFi especially after the various scandals that happened in the CeFi world.

These centralized platforms are only as powerful as we let them be. Us, as a collective, can easily pull the plug any moment we decided to.