Though I'm optimistic that life will go on, it will be really very difficult to go on without Binance in the crypto space. My emphasis is on "really very" there. Just take a look at how the FTX saga is dragging other stuff into issues and bankruptcy with it. You can imagine how many other exchanges that rely on Binance to draw their sources from it and what will happen if Binance goes down with what's happening with little FTX compared to Binance.

It will drag the development backwards. We can recollect how difficult it was a few years ago buying cryptos on the internet. More so, newcomers to this industry find it easily accessible to be on Cex than Dex because of the numerous cryptos therein.