One of the biggest argument for the adoption of Cryptocurrency to the traditional modes of finance is that Crypto is decentralised. That means there is no central governing body that calls the shots and pulls the strings. In Crypto it's all run by smart contracts and nodes, and the computation power is shared among several parties making a 51% attack almost impossible. But being the conspiracy theorist that I am, there have been several writings on the wall.
And a lot of happenings overtime might be pointing to the direction that there just might be a caucus and group of guys that are controlling, and if not fully controlling, striving to control things.
Think back to the Steemit hostile takeover by Justin Sun which led to the Hard Fork that created Hive, all it took for him to depose the Steem witnesses was to connive with the other exchange bosses to give me all the Steem tokens they had. Shows the top guys know how much power they wield, a certain CZ the owner of Binance was part of the CEOs that helped Sun.
And then remember the infamous statement CZ Binance made back in 2019 after the Binance hack, that they were considering rolling back the system, and they only decided against it after consulting key stakeholders in the industry, if that didn't scare you I don't know what else will. Think about it, the Bitcoin network is meant to be immutable and transactions on the Blockchain cannot be tampered with or rewritten. And so for one man to say that he can roll back the network, that shows a power no one should be able to wield in this industry. And then add to the fact that Binance has arguably the largest exchange, and they also have of the biggest mining pools also, and they also own the one of the biggest price referencing site. That should be chilling the amount of power they already possess, and we can be sure there are alot going on underground, and a lot of places where CZ Binance has his hands in.
It's scary to think of what these guys can do and undo. Just the way we've all accepted that the Crypto market is in a way not run by supply and demand, it's a highly manipulated. I think we all should also accept that amid all the buzz that follows decentralisation, there is a centralised body running, or at least trying to run things.