Does Cryptoworld Fail?

Cryptocurrency is a decentralized monetary system by nature, but there are many centralized projects using cryptocurrency networks. People see the projects as decentralized ones. In fact, FTX, Blockfi, Celcius, and others are not decentralized.

https://twitter.com/nayibbukele/status/1689291999478677504

There are centralized entities that work on those projects. The centralization that uses a decentralized network will create unaudited assets. In the end, there are many cases of corrupted crypto projects. In this case, does cryptocurrency fail entirely?
El Salvador is a country that works on decentralized projects. It legalized bitcoin as legal tender. However, the official wallet that is registered in the state is a centralized wallet. Here, can we say that El Salvador applied for a decentralized crypto project?
In my opinion, decentralization could not stand alone. It needs centralized services to bridge the gap between cryptocurrency and fiat.

If you say that decentralization is successful? I can't say that because the nature of decentralization could not comply with the state's regulations. The combination of centralized and decentralized financial services can be the solution.

In particular, it is even more evident that these crises have nothing to do with the decentralized nature of cryptographic assets: the three platforms that ended up in a state of insolvency, in fact, are exchanges that have nothing decentralized about them, apart from the assets they held and traded.https://en.cryptonomist.ch/2022/12/02/failures-crypto-world/

In most countries, cryptocurrency is not money. It is an asset. It can be used as the means of transaction. To be accepted worldwide, cryptocurrency should be secured, user friendly, and simple. New users should not create long tail keys to make account. They can secure their assets in their own pasword, they also have chance to recover the lost assets because of forgeting keys.