Binance is currently the largest exchange in the crypto currency world and has a large market dominance, so I think Binance will have a good impact on the market if there is currently some crisis. But I also know that the cryptocurrency world has its ups and downs. But Binance's crisis doesn't mean the end of the cryptocurrency world. I think that sometimes when these things happen, first there is a crisis and the market is down for a few days, but then the market will recover again, just like what happened after the crash of the FTX exchange.
The crypto industry will not collapse just because of Binance, but with the dominance that Binance is creating, they are very different from all the other exchanges, and FTX is nothing. Assuming Binance collapses, it will be a major blow to the market, it will be much worse than any crisis that has occurred before. Of course, the market cannot crash, but it will be very badly affected, and it will take a long time for us to recover.
In my opinion, besides Bitcoin, Ethereum, and Binance are the two biggest factors for the market's growth.