Quote from: Natalim on Today at 09:52:02 PM

Quote from: Newchanka on June 13, 2023, 11:13:22 PM

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.

I also don't believe that Binance will collapse or shut down just because of the SEC's baseless slander. people are obsessed with the collapse of FTX, but they don't try to compare the difference between Binance and FTX, they always assume that all exchanges are the same. but if in the worst case Binance crashes, it will be very bad and catastrophic for the market because their reputation and role in the market is huge. As far as I know, binance's trading volume is equal to all other exchanges combined, which shows that their dominance in the market is huge.