I want to know Xn = total balances. You can't tell my balance from yours in that total so there's little privacy implications other than knowing that I use an exchange which is kind of obvious anyway. I would also love to know the distribution of balances in that Xn.
Let's say Kraken listed out all balances of 10 million users or whatever you have in a Google Sheets file. I want to know that I am line 100,000 and it adds up to the reserves you have on a blockchain. No need to tell me the line number in account or email, I can CMD F it.