Is it really over for crypto if Binance exchange or Tether go bankrupt like FTX? Can crypto survive without the centralise organizations and projects?
A disaster.
Binance's collapse would affect almost everybody in a very bad way and tether's collapse would be ten times worse because almost every exchange is using tether's liquidity nowadays. Almost every crypto is being traded against tether nowadays, not against the US dollar. Tether going down means liquidity is going down. When here is no liquidity, the price can be anything. $100 or $100k. It doesn't matter because nobody is trading it.