Crypto centralization and "the enabling" of fractional reserve banking.

Why dont I hold XRP, BNB, Solana, Tron, Terra, etc?

Simple. In different ways centralized power structures control all those tokens. That control might go from absolute like is the case with TRON where Justin Sun controls the supply, crushes projects on Tron he disagrees with, or creates stablecoins where he printed 90% of the total supply. That is absolute control.
Then you have chains where a centralized power controls all the infrastructure or simply have so much influence over everything that any change must be approved by them.

These chains run themselves not as decentralized where all the infrastructure, influence, and decision making power is spread across the board, as is the case with Hive but rather run themselves as legacy market style businesses with a strong hierarchy.

I just want to mention Hive here for a second as some have tried pointing out that Hive could be seen as centralized due to low HP necessity to approve proposals.
3 points to that.

Hive community has proven that there is no one more powerful then them during the Steem takeover.
Hive whales are fully aware of that. In a sense, you could say that they fear the community. It is a positive fear stemming from the fact that we are those that are the ultimate value of Hive. That is not true until you show it, and we did show it.
That is why you only see generally non-controversial proposals funded. If the community got together and oppose something, argumentatively and firmly, whales would back down.
Your account value significantly exceeds your wallet value. This is something that people tend to forget and dismiss as it is a hard to measure quality. I stole🙂 Dans definition and call it "Social Capital". It isnt written anywhere, it goes even beyond your reputation score.
YOU, sitting behind the screen are worth "something".
How much that is is decided by the community and how you interact with said community, your contributions, your argumentation determines that added value. I could name you dozens of Hivers whose voice can rival that of any whale. That is why I will never subscribe to this victimhood notion of a Hive "King" (as some have called people like Blocktrades or Smooth, or TCMDan) and his council of subordinates. On Hive that is beyond an absurd notion.
When it comes to the DHF, community response mentioned already, there is a massive opportunity there for literally anyone when it comes to proposal approval. There is the return proposal that at this moment stands at 14 million HP. That accounts for only about 2% of total Hive supply. and 8% of total Hive staked.
If you eliminate every single whale from the equation, considering none would vote you (which happens never), there is still enough staked Hive to vote you over the return proposal almost 5 times.
Is it easier to get a few whales to vote? Sure it is. But that doesnt mean "harder"="impossible".
All it takes is a good idea, DMs and some good old networking.

Hive aside...

CEX nonsense and the ugly truth:

I firmly oppose anything and everything about CEXes. I consider them currently a necessary evil and I do not use "evil" in a watered down manner.
Through a simple fee system, at first, these centralized entities have grabbed so much power over crypto that CEOs made themselves the faces of crypto. They are the ones that represent crypto on the global stage. They can lift up or destroy cryptocurrencies or projects. Individuals that affect the whole market, that can bring upon bear markets, kill mainstream crypto reputation, destroy peoples lives or manipulate bull markets.
See, in legacy markets you have banks that function under a set number of rules, theres a monetary and fiscal policies set by governments and central banks. Money being simply a tool in service of economic growth and stability.
Does it work? Sure it does. Does it work well? Questionable.
Fractional reserve banking has been in place for decades created under the assumption that banks are net good for society and that people will generally always choose to hold their money in a bank due to guarantees associated with it. "If all banks fail that society fails as well". Banks being the origin of a large part of the money supply.

Crypto has no system like that so the greedy assholes that the CEXes are, assuming that people will generally not withdraw all their crypto from a big CEX, started implementing the fractional reserve method themselves. They created "paper Bitcoin", "paper Hive", "paper Ethereum" out of thin air on their CEXes. Not to steal your crypto, but rather to use your crypto for their own business plans, without your permission or any kind of compensation that would exist in cases when a third part handles investments.

Crypto that existed nowhere else except their CEXes.
There is a simple reason you CANNOT do that.

THE ORIGIN OF BITCOIN IS NOT THE CEX, THE ORIGIN OF BITCOIN IS THE BITCOIN BLOCKCHAIN. THE CEX CANNOT CREATE BITCOIN, UNLIKE WITH BANKS (simplified) THAT CREATE DOLLARS..

So when you run a fractional reserve in crypto youre basically doing a massive gamble that has no guarantees and no safeguards.
With the crypto community being as is at the peaks of bull markets, greedy, stupid, irresponsible, very out of tune with the crypto ideology they in a way enabled these people to do what they have done. SBF and FTX are only the biggest to fall right now. Do you really think smaller exchanges arent doing the same exact thing?
Where you put your money, who you give it to, is you making a statement with your wallet.

Yes! I trust these people.
And trust is very easily missinterpreted by greedy assholes with no sense of responsibility and egos fed by the glorification they receive.

SBF wasnt born like this.
We created him.
We created SBF, CZ, Mashinsky, Do Kwons, Bitboys of the world.
They would not exist if our own greed and stupidity didnt lead us away from the ultimate goals we once believed, and some of us still do, when we decided to commit ourselves to this space.

Stay safe. Fuck CEXes.