Everyone also thought that FTX would not be like MtGox, but it turned out to be a bit worse than the crowd expected. FTX not only went into debt, but was also hacked. There's no telling how shaky CZ's empire is. He may be telling us everything is fine, but in reality things are on a powder keg there. Huge projects can also go bankrupt and close down very lightning fast. Then they will pay investors their money for decades, like the infamous MtGox.
The situation for FTX was different. They have done insider trade with customer funds and taken massive losses; they have donated money in an election campaign with customer funds; they have used laxurious resorts; and they have done unnecessary expenses with customer funds... Binance hasn't done anything like this till now. If they do, we would know that from the SEC already.
Binance's reserve of funds is transparent and audited. It shows they have more than 100% of their customer funds, and it's not in their exchange token, BNB, like FTX has done. If they have to shut down their exchange, they will be able to return all of their customer funds. If their audit report doesn't lie, then they will not go bankrupt like FTX.In the crypto industry, you can't believe anything for sure, even if it's audited. Many smart contracts of well-known protocols have also been audited many times, but that didn't save them from being hacked and losing money among investors. Binance may be involved in such schemes that no one knows about yet. For now, the pyramid is stable and everything is functioning, but what happens if some element of this whole empire fails? The mighty crypto empire could collapse overnight.