So what's going to be the impact of this tragedy on Binance??
It's impossible to say, but if you have bitcoin on Binance, you should withdraw it all to your non-custodial wallet, prevention is better than cure. In my opinion, their case is not like FTX so I think we don't need to panic too much. Furthermore, if they have accepted to pay fines to comply with the law, there is no reason to close. But Binance's position without CZ will certainly be more difficult, that's what everyone can see.
With this news in the long run, I think this is good for the market because binance is gradually becoming a monopoly in the exchange segment and they have great influence on the market. So the fact that they need to share market share is a good thing for the market. But it looks like Wall Street is going to be the new boss of this game and I don't know if that's good for us or not.