Not sure what is so surprising about this?
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How does one decentralize an exchange, remain compliant with regulation and profitable? Are there such exchanges?
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Look to the Binance example. Of course they started out as centralized; but with the popularity of the platform (user base), all they have to do to remain profitable is charge premiums on transactions. Let's see how it goes for them; others can follow.
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I like Binance but they are not decentralized. They are arguably less centralized than others, but that’s the point in all this. Exchanges have been centralized and may always will be. They hold the Bitcoin. Get it from them and get it away from them.
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