I think if binance joins the collapse then the crypto market will be greatly affected by this, we know that last year was a bear which was very scary if we added to the collapse of binance, it can be concluded that the crypto market will crash very big, but I'm also confused why btc is still continues to rise when many predict that btc will still go down.
Binance collapse will have a very large impact on Bitcoin and make many people forget about the cryptocurency market but that won't be the end of the market. Bitcoin will bounce back and rise to higher price but would take some time.
Binance is fighting with legit proofs and many of the FUD are fake been sponsored by FTX supporters or investors that are angry that Binance cause their collapse and want payback.
Whenever they have a valid proof that binance exchange or the CEO is guilty of if the accusations against them, they'll go down as other centralized exchanges has gone done in past but the market will survive as it usually does.