What’s your take on crypto exchanges? ( TUESDAY NOV 26)

Cryptocurrency exchanges are the center of crypto trading.
Binance recently crossed $1 billion in cumulative profit; Coinbase generated $520 million in revenue last year.
However, the future of regulatory framework remains uncertain for exchanges; failed projects like QuadrigaCX and Einstein are still under investigation. What is your experience with centralized cryptocurrency exchanges?
With DEX popping up, which DEX projects are you keeping an eye on? Do you think it will be a better solution than centralized cryptocurrency exchanges?
We are looking forward to hearing your opinions.