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.
A lot of what causes the change in the price is market speculation, and so naturally a decrease in the price due to SEC throwing down sanctions on Binance would definitely affect consumer sentiment on their investments that are on Binance, for example, and if I still had money on there I would have been rushing to get it out and off of the exchange. In this scenario you can see how a lot of people probably got all their coins off and sold right away. Just an example, I mean I definitely see where you're coming from but your personal feelings on current events wont change this haha