It's quite dangerous for a centralized entity to monopolize crypto, from owning bandges to bullets; they want everything to come in contact with their ecosystem before crypto's actually see true success. But, Binance's recent movements is having the inverse effect, they are becoming a truly a dangerous threat to crypto entirely, this is in my opinion and sentiments.
Imagine Binance dictating which cryptos see success and which others fail, or in a different perspective; how people view success and failures through the lens of being affiliated or blessed by Binance, that's the direction we're headed in and how they want us to perceive what Binance brand actually means. They've done a lot of good for crypto as a whole since they were founded, but CZ is trying to expand and monopolize everything, for: power, money and what's probably most important to him, his fame and reputation.
I suggest the community start being critical about these power-house exchanges, especially Bianance since they are the largest by a mile (discounting all fake-exchanges). IEOs are a small indicator towards the centralization of power, giving the big guys the authority to dictate which coins you should be investing in. Crypto was not founded by someone telling you which coins you should invest or not invest in, it's always been a cycle of growth and maturing.
There are ultimately many repercussions that will be seen, for what's occurring right now. They will not been seen in the short-term, but will have lasting implications for crypto as a whole.
Again, Binance has done a great deal of good for crypto, a worthy topic in its own with: more capital, exposure, legitimacy...etc, the list is bigger than their biggest fault. But their biggest faults are treading into a major contradiction to crypto.
There's no denying, Binance is appearing to be the main monopoly of crypto, a true centralized powerhouse. If there is one takeaway here, centralization is the single most dangerous idea or action to the very nature of all cryptocurrencies.
2019The BitcoinSV Dilemma: For more detailed explanation
https://bitcointalk.org/index.php?topic=5135400.msg50745817#msg50745817Binance Hacked, Power plays: CZ Believes he can dictate the Bitcoin miners and blockchain.
https://www.coindesk.com/binance-may-consider-bitcoin-rollback-following-40-million-hack2020The Steemit Takeover by Justin: https://www.coindesk.com/trons-takeover-of-steemit-is-internet-history-repeating-itselfMore about Steemit: https://bitcointalk.org/index.php?topic=5229984.msg53952652#msg53952652Binance's Acquisition of CMC: Binance Continues to make headway towards total crypto dominance:
https://blog.coinmarketcap.com/2020/04/02/a-letter-to-our-users-post-acquisition/I think this is a good time to bump this thread and the OP deserves some credits. It's not good to give too much to one hand. It's bad for crypto.