6 months ago, my savings went down because of the FTX debacle. I've never used FTX, I've never been a customer of this company, but my savings are in BTC, and because of that failure, BTC's value went down, and so went my savings.
Today, bis repetita. I've never used Binance. I've never been a customer of this company, but because the SEC sues Binance, BTC is down, and so are my savings, so I have a message to all bitcoiners out there.
Exchanges and BTC are 2 different things. One exchange going down doesn't mean BTC must follow.
Binance will disappear? I don't give a damn.
First of all you are mixing Binance and Binance US, and those are two completely separate entities. If Binance created Binance US is exactly to avoid problem with the main exchange because they know how things (don't) work in the US thanks to the SEC. Now let's talk about exchanges: does bitcoin need exchanges? No. Do ordinary people need exchanges because they're the simplest way to buy crypto? I would say yes. If you care only about bitcoin's existence then you're fine, if you care also about bitcoin's value then you shouldn't be here hoping that exchanges fail.