Post
Topic
Board Bitcoin Discussion
Re: Would Bitcoin Be Badly Hurt if Binance Goes Down?
by
adzino
on 16/06/2023, 23:20:03 UTC
I really am no fan of Binance because I found their KYC annoying. What is not in doubt is that CZ is supposedly one of the most credible faces of crypto. How much harm do you think a Binance implosion would cause Bitcoin? Is the US a big threat to the coin market?

https://www.cryptoinfowatch.com/a-former-sec-official-said-the-binance-ceo-and-others-may-face-criminal-charges-soon/
Yeah, if a big, I mean the largest exchange in the world goes down, of course it is going to affect the whole crypto market. It is going to be ugly since everyone will be pancking, but remember that, bitcoin is decentralized and "a single" entity can never take down the whole bitcoin market. What we will see is some short term after affect on the market, but eventually the market will recover and start to rise again. It has happened before and we have seen how the market eventually recovers and survives everything.