Correct, the USA isn't the whole world, and while a possible withdrawal of Binance in the USA will hurt cryptocurrencies, it'll only last for a short period, and the gap will quickly be filled by another exchange. Governments don't care about innovation and technology; they see it as a threat for a variety of reasons, such as tax evasion and privacy, which they are against. While it may seem that purchasing now may be a huge opportunity, current purchases may be a liability because further allegations may hurt Binance on a worldwide basis. There's no guarantee on what will happen next. The situation requires cautious moves, as things may quickly take a sudden turn for the worse.
The US has some crypto-friendly politicians, so all hope is not lost. There's a bill introduced in Congress aiming to remove SEC chairman Gary Gensler from his position. Whenever it'll be approved or rejected by both chambers of Congress (House and Senate) it's yet to be seen. Whatever happens, you can rest assured crypto won't be going anywhere soon. Crypto companies, businesses, and exchanges will move their operations elsewhere if the US continues to treat the industry with an "Iron Fist".
Centralized exchanges are the gateways into and out of the Fiat/crypto worlds, so anything bad related to them will certainly affect market prices in the short-term. Long-term speaking, prices should go all the way to the moon. I'd just forget about the negatives and only focus on the positives. This extended bear market is a great opportunity to grab prominent cryptocurrencies at a huge discount. If you act now, you'll reap the rewards in future. Maybe you'll become the next crypto millionaire? Just my opinion
