Post
Topic
Board Service Discussion (Altcoins)
Re: What happens if binance and tether goes down
by
albon
on 01/12/2022, 14:53:59 UTC
Is it really over for crypto if Binance exchange or Tether go bankrupt like FTX? Can crypto survive without the centralise organizations and projects?
Of course, this would be a disaster, and the entire crypto market may collapse due to the lack of confidence of investors, but as for Binance, I see that it is a strong platform and they have great measures that they take to keep the users’ funds safe. They have the best security systems in addition to specialized teams that work seven days a week very hard to make sure that the funds of the platform users are safe, Binance also has the SAFU Fund, which is the Secure Asset Fund for Users, and it had been topped up to a billion dollars. I do not recommend keeping money in the exchange platform whatever their commitments and transparency, but Binance is a strong platform by all standards, and the USDT team has its reserves In emergencies, they can restore the currency price in the event of a drop from its stable price.