centralized exchange whose owner's identity is known, can collapse at any time for various reasons especially if the government targets that person to be prosecuted, but binance has so far been able to survive because they know how to run an exchange business.
If it wasnt for this possibility I would never want to sell my coins at this point as I pretty much think the bottom could be in. I saw so many bad news over the course of years and this could easily just be 99% FUD again but if it isnt my crypto money will probably be 99% worthless in case of this event happening so I do give it some thought. What do you think will happen? Do you think about selling your coins? Also what would happen with stable coins, would they still hold any value if this happened?
I know your concern and right now the only thing we can trust is bitcoin because bitcoin is a pure decentralized coin, I have some satoshis and have no intention to sell it. btw, if we look at the current BNB price
-10% in 24 hours but trading volume is up
77% in last 24 hours, it seems someone is trying to manipulate it.
Also how would such a scenario unfold IF it happened? When would we know? How long would the whole process take? Would there be enough time in between to make a decission or do you think it would unfold rapidly, trigger a chain reaction and steep losses?
chain reaction? of course I'm sure it will happen, just look at how the reaction was when the news about the FTX collapse occurred, several CEXs also said they were bankrupt and closed. and if binance collapses then we will see a deeper red market.