I know there will be lot of devastating affects on crypto market of this incidence like bitcoin price will fall very sharply. Many users will also loose funds and some will loose faith on crypto.
Bitcoin will recover as it did in past however I wonder how much effect will be on BNB as it's native token of supposedly decentralized chains of opBNB and BSC.
The effect on Bitcoin is indirect and temporary. In the long run, the fall of Binance and even the rest of the centralized exchanges shall be beneficial to Bitcoin and even its price. I believe the price of Bitcoin would be a lot higher if there aren't centralized exchanges. But the effect on BNB would be tragic. Binance's collapse would be fatal to BNB even if BNB is now more than just a native coin of Binance exchange. Binance is now like a prostitute but it still is an exchange more than anything else.