but what sort of people keep their bitcoins on the exchange ? the whole point is about not being seizable by dirty governments...

Traders; low information investors; people who are not 100% confident in their personal infosec and not willing to lose their bitcoins on their own.

"Not being seizable" hasn't really worked out for bitcoiners who've been arrested. Or for that matter robbed at gunpoint.

Pretty much everyone. There's a reason people lost money with ftx, Mt gox and other scams.

Managing your private keys is cumbersome, error prone, requires some computer literacy, the list goes on.

Tbh I have been kind of impressed by how fast L2 businesses brought back centralisation in every possible way. I guess it's more efficient for them.

In the same way, the internet was supposed to be decentralised, everyone being in charge of their own servers. But in practice nobody has the time to set up their own MX servers.

> but what sort of people keep their bitcoins on the exchange ? the whole point is about not being seizable by dirty governments...

For most people, cryptocurrency is just another stock market / betting app.

Most people don't care about that at all

"Number go up" people

Hype vibe investors, probably.

> not being seizable by dirty governments

If you believe that, I have some land to sell you

People who want to be scammed.