Quote from: Helena Yu on Today at 01:01:21 PM

I couldn't image if Binance is bankrupt, how bad is the chaos affecting Bitcoin holder since most of people hold their funds in Binance.

People who still hold their funds in Binance are either ignorant, not aware of the recent events regarding centralized exchanges & lending and earning platforms or they think Binance is too big to fail, if Binance bites the dust they'll be the ones affected and a million other holders of shitcoins, the BTC network will be just fine with or without Binance.

Quote from: SquirrelJulietGarden on Today at 01:10:45 PM

Stable coins must be backed by fiat currencies like the US. dollar. If they are backed by volatile assets like gold, Bitcoin, Ethereum, altcoins, they might lose their pegs anytime. Attacks from whales and market markers can kill stable coin pegs very quickly. A massive crash of Terra and its algorithmic stable coin is example of bad managed treasury can be easily attacked and broken down.

Many of these stable coins in the market are backed by nothing but thin air, people who think stable coins are backed 1:1 and that is why they hold them for a long time are joking, they print many of them out of thin air and your money may even be lost when you still have your stable coins in your wallet, not to even add that they can freeze your coins in any wallet it is held.

Quote from: Shishir99 on Today at 01:12:51 PM

Then just try to imagine how badly it will affect the market if Binance runs away or some authorities shut them down.

A large number of shitcoins expunged from the market-> BTC drops in price temporarily, but the network remains exactly the same-> Thousands of people learn a valuable lesson in self custody, and that funds are only safu when they have their keys.