I'm still not worried about Bitcoin being corrupted just because more centralized custodians are popping up. The institutions might be technically in control of the keys, but they are still legally bound to protect the funds of their clients.

The hacks will continue, and security will ramp up in response. In my mind not much has changed. These open networks are open, and we don't get to pick and choose who is allowed to hold tokens. It makes sense during the transition period of Web2 to Web3 that centralized custodians would be hugely popular. Let's see what happens after a few of these honeypots get hacked.

That being said I did write this one in 2018:

The great dragon of Bitcoin is about to be slain by the White Walkers.

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