We can argue that the crypto industry is still relatively new, but what roles are exchanges playing or what are they doing to foster its adoption amidst these various challenges?
First of all, I am not sure if the Op is asking for the Dex or Cex's but as most of the marketing is done by the centralized exchange in that context I think as always what I stated whether you like or not the centralized exchanges made a lot of contribution in the global crypto recognization and adoption as well with their marketing strategy and other services a lot of people started their payment mode and service exchange with crypto market. In the future as well they are gonna make a big sound in global adoption.
But as most people are concerned about their privacy and self custody so they use the centralized exchange but most of the new users are still dependent on the centralized exchanges. I also prefer using the DEX but I use to appreciate the contribution of the centralized exchanges in this market and global adoption.
and with the addition of p2p services among crypto-exchanges, a lot of people from across the globe are actually using such service to convert their crypto to their own fiat. they are trusted by a lot of traders to this kind of service because they know the reputation of the CEX. in my opinion, CEXs or DEXs have a great contribution in the adoption of crypto because they are the bridge in seeing your crypto to other alts or to fiat currencies, where you can actually use it to your daily living.