On the one hand, if you like the idea of cryptocurrency, having large powerful exchanges is beneficial since they provide a voice against ham-fisted policies that would effectively make cryptocurrency illegal. But on the other hand they'll obviously play ball when the state asks them to censor or confiscate.
Obviously the best solution is to manage your own keys, but even as someone that's sophisticated technically, I still get nervous having a large amount of money dependent on a piece of paper stored away somewhere in my desk. Is there a middle ground or best practices where we can be reasonably assured our funds are safe from state influence but easily accessible and secure? Are multi-sig wallets at a state where they can be useful and free from confiscation?