Of course, from our perspective, they are all doing it the wrong way, behaving with Bitcoin the same way they behave with fiat currencies - that's why CEX is just another type of bank for them. However, that CEX is one of the more serious ones on the market, and they say that only about 2% of cryptocurrencies are in hot wallets, while everything else is in cold wallets.
Hmm. I am sure we both disagree fundamentally with what you wrote, which obviously, I understand how and why you wrote it.
In my opinion the matter is really serious. Because a country essentially delegates the security of a huge-valued asset pile to a company. It's obviously not the first time it happens, but it signifies the continuation of the "trust mentality" that they can't get away from. Bitcoin comes to solve this, so in a more libertarian way of thinking, the USA should do their own custody and completely ignore third parties. Right now, the coins belong to Coinbase, not to the USA.