Post
Topic
Board Bitcoin Discussion
Re: Would Bitcoin Be Badly Hurt if Binance Goes Down?
by
Natalim
on 19/06/2023, 21:52:02 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/
And the impact is likely would make doubtful individuals get panic. The price of Bitcoins will get affected and dumped but not going to the point that it turns back low like in the first quarter of this year. CZ is a known person and has market influence, and he would do something to save his reputation and retain his business. That is why despite the issue against the SEC, I was still confident that it will be resolved. Besides, the SEC doesn't target Bitcoin but only Binance, so it did not necessarily have to worry.