If this mishap is really based on truth, then the cover of this disaster, i.e., Binance Bankrupt, will be beyond imagination. Why are 150 million people connected to Binance with their assets? If Binance shuts down or goes bankrupt, it may cause a sell-off panic in the cryptocurrency market due to the sell-off in the prices of bitcoin and other coins. A reduction can be seen that has not been recorded in history. Obviously, Binance is the world's top exchange, and Binance has allowed small exchanges and institutional investors to collateralize crypto assets, so if something happens to Binance, these small exchanges will also be required before Binance can cause panic in the market.

In the end, let me know by adding that I don't know that these people are curious to dig their funds on the one hand, and on the other hand, they are depending on them by giving their funds assets to the exchanges. Although exchanges do not give you a complete guarantee and security of your funds, when a self-custody (hardware wallet) supports you with all these associated limitations, what is the need to give authority to exchanges?

Therefore, the purpose of speaking was to keep the fund in hardware wallets and not give so much importance to exchanges; no matter how big the exchange is, it should not be kept safe to keep its assets. You should take steps yourself instead of depending on others.