I’ve watched this shift from the edge of my screen at 2 a.m.—not as a trader, but as someone who remembers what it means to lose $3K during the FTX crash. CEXs aren’t just chasing DeFi—they’re weaving it into their DNA. Binance simplifies access, Bybit reinvents liquidity with ByReal, Coinbase bridges regulation and user trust. This isn’t speculation. It’s slow architecture: a candle lit on a blockchain graph, quietly reshaping who owns the future.