Bitcoin Forum

I really am no fan of Binance because I found their KYC annoying. What is not in doubt is that CZ is supposedly one of the most credible faces of crypto. How much harm do you think a Binance implosion would cause Bitcoin? Is the US a big threat to the coin market?

https://www.cryptoinfowatch.com/a-former-sec-official-said-the-binance-ceo-and-others-may-face-criminal-charges-soon/

Like you said, CZ is a big name in the crypto market, but what do you call a big name? He has been able to make his way to the top with his business ideas and amazing upgrades. I don't know how he did it, but for him to pilot his exchange to the top above all others existing before his, then I guess he deserves the big-name title.

The US government is also a big name, as they are currently regarded as a world power. If they shut down Binance, which they can only do on their end, they can only shut it down in their country. So long as other countries are still in support of the exchange, it won't completely go down.

And even if something happens and Binance completely goes out of business, one thing is for sure: the Bitcoin price will shake because it's among the exchanges that hold the highest Bitcoin trading volume, so such action will shake the market with a lot of panic selling, a huge number of withdrawals, and so on.

But above any given action, there is nothing that's going to happen to the market that has not happened before, so nothing will appear new to us again. The Luna crash, FXT, and many other big incidents could have wiped out people's faith in crypto, but they didn't, so with or without Binance, Bitcoin will survive. With or without the US government's support, either negatively or positively, Bitcoin is not dying off.

Whether you like it or not, it's always a yes. Smaller hacked or shutdown exchanges always give a bad effect on the market, how much more on largest exchange?

Shutting down of binance is highly unlikely to happen ^{(for now)} maybe on their US based offices/market, but it doesn't speak the same on the rest of their offices/market. But obviously it will have a mid to high bad effect on the market for some time.

Yes CZ and binance are actually a big brand in the crypto space, if we look at how much holdings of just bitcoin binance has it is over 500k bitcoin which is a large number that would affect the crypto market. But aside the fact that this saga is just a country subsidiary not the global one then it ban will have little effect. But let’s say it is even the entire binance shutdown then it will create panic as the largest exchange because some less knowledgeable people will have the wrong narrative that it will bring the end of cryptocurrency.

But in all of these I think it will just be a month or less than panic and everything will fazes out. The only way a binance saga will have a long term effect on crypto market is only when it is hacked and the funds on it is stolen. This will scare people a lot because some or even many who I believe still have funds on it would have lost their funds. Aside hack, banning or shutting down will just be a little panic before People move there funds to another exchange again

Binance implosion will really go a long way to affect the market of bitcoin but nothing is new to the cryptocurrency market again after other big incidents occurred and bitcoin is still standing firm and still continue to exist. CZ is a big name in crypto and also his exchange Binance also plays a vital role in the crypto market because of the large amount of bitcoin they hold in their possession.

If anything happens to Binance, especially coming from the US government, the market will definitely be affected and we may witness some changes in the market for the time being. After a while, the market will regain its former status but this situation only affects those that their minds are not set into the market yet but are on alert when a negative news pose threat to the market. They panic to sell or withdraw their funds.

If Binance as an exchange shuts down? Very bad outcome. All you have to do is study the outcome of previous hacks/shutdowns of what used to be the largest crypto exchanges at the time.

If Binance collapses as in Binance Coin or the BNB chain? It’ll probably be the most massive crypto burst and cold winter in history. There’s no other way around it. There are currently thousands of alts sustained by BNB. It’d likely have the same effect as ETH collapsing and bringing its entire chain filled with shitcoins down with it. It’d be a terrifyingly massive arrow to crypto’s back.

Of course, Bitcoin will do well. But probably only years after the collapse.

Exchanges and marketplaces offering BTC support meeting their untimely demise have been a harsh reality of crypto since silk road and Ross Ulbricht in 2013.

Those who are new to crypto will view binance as a "new" trend.

Those of us who have been here know trends of BTC marketplaces being shut down as part of the bitcoin experience from the beginning.

They are trying to control the market, that much is certain. I don't think the end goal is to kill crypto altogether, I believe the US SEC is trying to gain a foothold before they start introducing rules, business partners, etc whether it is directly or indirectly. It might seem scary but this should not be the first time stuff like this happens. FTX went bankrupt just a few months ago, and the market is still doing healthy compared to the past. We might go even lower but that's just the nature of a very speculative market.

At the end of the day having a less concentrated market that relies on one or two exchanges is good IMO.

I'd say there's always going to be an impact if relatively big exchanges shutdown, how big this is depends on how fast Binance goes under. If the process was relatively calm (yet determined already) I reckon most people are just going to move out of it and find a new exchange to set as the next big exchange people would use.

I don't think its going to affect the market that badly though. Maybe we'd see a big change for a day or two but after that we should be relatively stable again. Well unless Binance goes rogue though.

First of all Binance is one thing, Binance US another, and that is a huge difference. If Binance US shuts down pretty much no one is going to care except eventually some Americans but I don't see why the market should collapse because of that. The SEC has no power to shut down or prohibit operations from the original Binance.

If the original Binance fails/scams or whatever it's a difference story, for sure it'll have an important impact in the market but bitcoin will survive for sure, no doubts about that.

Isn't it the harm has been done already? prices are already stagnant with the news that SEC filed a case against Binance and we have been trading in this sideways pattern, $25k-$26k.

In case of Binance though exiting US, then maybe it will still have a impact, but I doubt that it will be huge. Maybe just a a few thousands of dollars. But then we've seen that bitcoin is so resilient with this kind of attacks and negative news that I don't see us recovering at the end of the year.

It's not that Binance will have a similar Mt. Gox effect, that time only Mt. Gox is the exchange, unlike today wherein we have a lot of options to choose.

as we know and feel, right now the price of btc is falling and what I know is the result and impact of the SEC suing binance, so I think if binance goes down fundamentally people will start not believing in bitcoin and crypto anymore. surely bitcoin will be wounded (price down).
 
but there are a lot of exchanges so if there are only 1 or 2 exchanges, it certainly won't be a serious problem for bitcoin and crypto. yes, hopefully the bitcoin price will go back up.

If Binance goes down, cryptocurrency market will be hurt and fall down so Bitcoin will be affected too. However Bitcoin is Bitcoin and it can be traded on many exchanges, peer to peer too so if Binance goes down, there will be other exchanges for Bitcoin trading. It won't be hurt too long and Bitcoin is always Bitcoin, it won't die because of Binance that is only one of many exchanges where Bitcoin can be traded.

Risk and opportunity but the USA will not kill cryptocurrency market. They are smart enough to not kill themselves and give opportunities to other competitive countries like China, Russia and European countries. They are flexible to change their polices with decentralized power in their national political system.

There are many Binance exchanges, we have the US, NZ, etc. The Binance.us is the exchange having an issue with the SEC due to some rules that were broken.
If the exchange goes down, it will be the US exchange of Binance, not the whole Binance exchange and it will only lead to a dump in the price of the market but the market will recover.

More generally, the US is a major influence on the global economy, so the crypto market isn't the only one that will be impacted but isn't really threatening in some cases.
Currently, binance is the controller of the most dominant bitcoin traders, which indirectly they also assume the responsibility of trusting people, including non-binance users. If the term "down" that you mean interprets their failure to maintain their reputation, it will at least raise the fear of some groups and potentially disrupt the market situation.

No. Bitcoin has seen the failure of many exchanges in its lifetime so far. If binance went under a new one would just emerge, but bitcoin's resiliency is really a testament to the purpose that it was created for and is meant to liberate us from the corrupt fiat banking system. The US has this whole crack down to crypto right now because it is considered a threat to its own world reserve currency status, but right now the US is really going to be responsible for losing that because right now we have generated more dollars these last few years than we have ever printed in history. Crazy stuff! Great for BTC though!

Badly hurt in terms of what?

The price would be definitely great affected in short term because most of people only know and hold their coins in Binance, but after that the price would be back and stable because everyone can still trade Bitcoin via P2P.

Both of top exchange and US can affect Bitcoin price, but they don't have a way to completely shutdown Bitcoin.

Hurt ? not only bitcoin but also those investors that expect profit in the next coming days but this is just temporary .

Yes Binance is one of the biggest exchange but we knew that exchange is a business and there is always competition , while binance is there surely there will be more exchange to grow upon the fall of binance .

Bitcoin leaves not only because binance is there and it is because we as bitcoin users support this.

we can still purchase and use bitcoin even without this exchange .

Binance is just an exchange like every other centralized ones both the oes existing and the one that have ceased to exist because of hack or bankruptcy, Binance will do no harm to the bitcoin network in no way except your bitcoin with them that will suffer loss, why should you keep using or holding your bitcoin on centralized exchanges that can take away your coins anytime just like other exchanges has gone down in the past, it's current challenges is not an internal one but an external challenges with government regulations on their exchange in US, Which means it's not a global issue or concerns, the worst could be them relocating from US if they didn't arrived being in accord.


Not at all, that's why bitcoin is a decentralized cryptocurrency, there's no manifestation of any central authorities over it market price or value.

Binance is essentially THE crypto empire of the world. It'd probably be good long term because then people would use a variety of exchanges instead of Binance totally dominating the exchange industry. But short term it'd be pretty disastrous if something happened to by far the dominant global exchange.

They say, you do not get to the top, without stepping on other people... and CZ stepped on a few. We know that he just recently threw another exchange under the proverbial Bus, when he promised to bail them out..and then did a rug pull on them, by not granting them the loan in the dying hours of the deal. (Robbing them from the opportunity to get other investors and killing one more of his competitors)

So, let's step away from the idea that CZ are some kind of Bitcoin Jesus..... because he is not... and only another profit hunter, like the rest of them.  ::)

If Binance goes down, the crypto market will have a huge impact, temporarily. As per coinmarketcap, Binance is the most used centralized crypto exchange at this moment with a trading volume of 7 billion + USD. Its closest competitor Coinbase has a volume of 826 million as per CMC. So you can understand how much trading volume will be impacted. The crypto market won't be able to avoid the impact.

However, the good part is that the impact will be temporary and the crypto market will be back on its feet sooner than later. The way the US is moving, multiple other countries will seize the opportunity to build a crypto hub. This shift is necessary for the better future of crypto.

In terms of Trading Volume Binance is one of the largest cryptocurrency exchanges globally, and makes up a significant portion of Bitcoin trading volume. If Binance were to close, there would likely be a temporary disruption in trading activity, which could lead to a reduction in liquidity and potentially affect the price of Bitcoin in the short term.

From a Market Confidence perspective Binance has established itself as a reputable and reliable currency over the years. If it faces serious legal challenges or is closed due to regulatory issues, it could undermine investor confidence in the cryptocurrency market as a whole, including Bitcoin. This loss of confidence can lead to increased volatility and negative sentiment in the market.


As to whether the United States (US) is a major threat to the coin market is a controversial topic and has various examples from a Strict Regulatory standpoint where the US has taken steps to impose stricter regulation of the crypto market. Measures such as oversight of crypto exchanges, KYC (Know Your Customer) requirements, and stricter tax reporting obligations can limit growth and innovation in the coin market. This can negatively affect the market and put pressure on the value of the coin. Then there is the concern that the US may ban or limit access to certain crypto coins which means that if this ban occurs, it can reduce market liquidity and affect the price of coins that are traded. affected.

It is recognized that the US has global influence in terms of financial regulation and international relations. If the US takes a disastrous course of action on the coin market, other countries could follow suit, resulting in a wider and detrimental repercussion for crypto markets globally.

I personally assume about the current state of regulatory law against an exchange like Binance at the moment I think it could really benefit Bitcoin in the long term. as increased regulation can help improve investor protection, increase market transparency, and encourage mainstream adoption. If regulatory rules become clearer and stronger, it could attract institutional investors and further legitimize Bitcoin as an asset class.

The term "BADLY" isn't good to use because TBH, it will not hurt that much - at least for me. I wonder why people are focused on the news on whether they need to buy or not compare to the charts itself. Most of the investors are looking the news as their catalyst in whether they will buy or sell. This is the reason why the market is heavily affected when news like this happens.

Bitcoin would certainly be affected if the worst thing happens which is Binance going down, but the effects will be temporary in terms of the price of it. FTX going down, Terra Luna going down, and other events in the past has affected the crypto market, but we've seen that all of that effects are just temporary because at the end of the day, these type of events that are happening are opportunities for the investors to accumulate more thus, increasing the price after a few days.

Well, it's the Binance.US only that's affected, so I guess the whole company might get affected in terms of their revenue, but it will still run because they still have other exchanges that are outside US.

That is because you never submitted the right details or you were wanting to cheat for you to pass the kyc, as far as i know their kyc system is the easiest and simplest kyc i have ever encountered so far without any delay.

There is no hidden truth about this but without his knowledge which he uses his exchange as one of the largest cryptocurrency exchange in the crypto space he would had just been famous as other crypto influencers.

What we would only see is blood bath, apart from that nothing much maybe after some weeks market would bounce back. Besides CZ or Binance are not the entire market of cryptocurrency again Binance exchange is not Bitcoin and Cz is not Bitcoin. So if whatever that goes wrong with Cz or Binance crypto market continues to soar and some other exchange may likely replace Binance.us or the entire Binance exchange. Let us not romance all this Binance of a thing as if without that exchange there wouldn't have been any positive thing that could come out of bitcoin and its progression.  

We know that Binance exchange has greatly played an important role by promoting the awareness of Bitcoin and cryptocurrencies at large at same time his is also making his profits by promoting his business globally through bitcoin and blockchain Innovation, so without the advent of Bitcoin and Blockchain I didn't think there would had been anything like cryptocurrency exchange. Hence, Bitcoin Development continuous while CZ sorts out all the issues that related to Binance.us.

I also don't really like centralized exchanges, just use them for P2P transactions due to the current situation in our country.
I actually think that even before the Binance exchange came into the crypto world, Bitcoin has had its ups and downs for various reasons, so I wouldn't think much different that if Binance goes down, the market will be down for a few days, maybe. In this case, it can have a little more impact because Binance is the name of a very big giant in the crypto world. But at the end of the day I think this impact will not last long and Bitcoin will return to its own track.

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Besides, I just got this news, 'Judge Rejects SEC’s Request to Freeze Binance.US Assets, Orders Parties to Compromise
The court has ordered the SEC to work with Binance on creating a plan that would safeguard assets while allowing the firm to carry out business as usual.'
source (https://cryptopotato.com/judge-rejects-secs-request-to-freeze-binance-us-assets-orders-parties-to-compromise/)

Cryptocurrency exchange binance, cryptocurrency exchange coinbase, tether "cartel" are the three largest companies in the crypto industry. 

The collapse of even one of them is a huge shock for the entire cryptocurrency market.  When such an event occurs, it is likely that the price of Bitcoin will fall sharply in the short term.  However, this fall in prices will be short-lived.  Bitcoin may well exist without cryptocurrency exchanges. 

When Satoshi Nakamoto created the first cryptocurrency, there were no cryptocurrency exchanges. 

However, people have a need for marketplaces where you can buy and sell Bitcoin and other cryptocurrencies.  Perhaps as a result of the collapse of binance, there will be new decentralized solutions in this area.

I don't think that Bitcoin will fall badly enough if Binance goes down, because if we look at the LUNA case, FTX, and several previous cases, where at that time the market was very chaotic, Bitcoin was indeed affected, but not so significant that it bled. From this we can say that even though Bitcoin is affected by these cases, it can still stand up and give confidence to its investors. Especially when talking about the US. Their influence is not as big as one might imagine on the crypto market. The US will never be a country that will drive or control too much in the crypto market, as they did the global banking system. They are just countries that have a sizable portion of the global crypto market and that's about it. They dream that they can control the crypto market globally let alone stop it.

Governments general likes to have a hold on their economy, especially where it concerns the private sectors. As most members have predicted, if binance were to go down in the US, it will have a big impact on bitcoin, because USA is a world power economy and binance is a big and major exchange. But this impact will only happen on a short term, as other exchanges will take the advantage to measure up and try to take the place of binance in the US, also with the stability of bitcoin, in no time the market will be trading as normal.

It’s very true though that CZ has also done a lot of good to the adoption of crypto. Of course he’s stepped over others before, they all do, but his downfall would still have a massive impact over BTC and crypto overall. Whether we like it or not, his smart chain is worth a shit ton of money and if that collapses.. on the good side we’re gettig rid of a good part of today’s shitcoins but on the other side we’ll have to buckle up for what’s coming our way lol

It won't hurt me that much and it won't make me want to sell my holdings but people will panic, and the whole crypto market will move down badly because that's just the sentimental of the crypto market, the same thing happened because of FTX, and I was able to secure some good position because of FTX demise, I remember that was when the real bear market started and Bitcoin went down to 17,000$.

Binance is a good centralized exchange and I believe it should be treated in such manner, a centralized exchange cares for their business only, I won't entrust my Bitcoin and Fiat to any centralized company, the risk is very high still, even if the CEO is a big figure in this crypto space, I bet Sam was once a big figure too.

According to CNBC News (https://www.cnbcindonesia.com/market/20230330104942-17-425762/binance-disikat-regulator-as-harga-bitcoin-cs-apa-kabar (https://www.cnbcindonesia.com/market/20230330104942-17-425762/binance-disikat-regulator-as-harga-bitcoin-cs-apa-kabar))
There is no impact of Binance legal issue to Bitcoin Price. So, I think, if Binance Goes Down, Bitcoin will not be impacted.

A new exchange may have to be adopted indeed, else, how would those who rely on the Binance exchange trade or do business with it as usual, survive.
The safest thing to do now remains to keep being informed with the news mostly as Binance, kraken are in the news following a lawsuit.
It would be safe to use non custodial offline wallets too, so as to be confident such doesn't happen on the day we least expect.

[Binance is asking KYC because they are under the supervision of state SEC which made the centralized exchange platform. And good performance make one to be the number one in any race of competition so for Cz to take that position means he has credibly done well in the crypto market. I don't think there will be any harm in bitcoin if Binance left the exchange market. There will be a replacement of it. Bitcoin does not depends or rely on Binance to survive instead it is Binance that depends on bitcoin. So for Binance leaving the crypto scene will not have any effect. USA is not a big threat to the crypto market but they are trying to regulate and control it but I don't think that can also work out. They can only control the centralized exchanges and centralized altcoins. But finally USA will also support cryptocurrency in the world. And at that time bitcoin will skyrocket to the cloud.

Bitcoin has been surviving from 2009 without Binance and I believe that the same thing will happen if Binance shuts down,this will affect the crypto market for some period of time and after that bitcoin price will correct itself again.

Binance can't totally go out of service because there are other countries that are crypto friendly that Binance will still operate there. There are some countries that is not crypto friendly but Binance still operates there and the government doesn't see it as a problem. Example of such country is Nigeria. It is only the US that can shut Binance out of service in their country.

Speculators would probably be dramatic about it and make a lot of noise.  But Bitcoin as a network and a protocol would not be affected.  The blockchain does not care when middlemen fail.

Also, a BitFinex collapse would likely have a bigger impact on markets, due to the amount of money tied up in USDT.  

I think Bitcoin will be affected in a short span of time, we can consider the impact of Binance the same as FTX.  It will only short live as the Bitcoin traders are already used to this kind of scenario.  Trader can just find other exchanges and continue trading.


The US is one powerful country so  I think the US going southward to cryptocurrency will be considered a threat since if they are serious enough they can give a huge blow in cryptocurrency operations by regulating centralized services and going after Crypto activities in the name of illegal things such as money laundering, fraud and scams.

Binance is a big trading market for now, so with the problem I think it is very big on Bitcoin, so those of us who use Binance are certainly very hit by the problem even though this problem only occurs in the US office but for other branches I think it is also influential because Binance is the largest market for now and has been fully trusted by investors, We hope that this problem will be resolved quickly and do not let Binance exit the crypto market, because many negative things will happen to the crypto world.

The KYC mechanism of Binance isn't annoying at all and anyone could do the KYC without any issue, however, some people are highly against centralization and only for them KYC is an annoying procedure. I must say that CZ is truly among the best crypto nerds out there and he has made his position in the hearts of crypto-currency fans. The guy holds a lot of power in his hands when it comes to crypto-currencies, even a single tweet of the guy could influence the value of an asset to very high levels.

When an exchange like Binance is shut down the consequences for Bitcoin won't be good at all, but it's very unlikely to happen because Binance holds its position in the crypto market and even United States and Sec are aware of that. They would never do anything to shut Binance down because with that simple act the whole world could face huge financial problems due to crypto-market crash. If they take any strict actions against Binance to shut it down then things won't be in favor of anyone, the whole market is likely to crash after Binance shutting event and this time it would require so much confidence of investors to revive the market once again.

The United States is taking such actions against those exchanges to stop investors from putting money in Bitcoin, and they have a valid reason for doing that. They want to control the dropping value of dollar and at the same time they are doing it to pose huge regulations on crypto-exchanges. There is also a chance that US and Sec are planning to create a way for CBDC's to take huge share of the market and they will give more time to their plans. They might be doing that to create a scenario in which everyone may transition to CBDS's instead of current crypto-currencies, and that thing can happen if they win the trust of the investors.

Currently the largest exchange is experiencing a problem is Binance, and we have seen this problem getting bigger and they are looking for a solution so that Binance can be used as before which is safe for us to use in transactions and trades, so with this problem of course there is certainly a big loss that will occur with the value of Bitcoin because Binance is indeed the largest market that is always relied on, and the US is currently getting bigger and bigger adverse effects on the crypto market maybe this is all a result of China's pressure on the US, we expect it will all end.

Haha, Quite a funny question and thoughts, Hmm, Binance is a big whale in the Ocean of crypto but Bitcoin is OCean by itself so how can we even compare it? Brother if Binance locks down Bitcoin will have a temporary impact due to huge funds in the market but Bitcoin can die, It can just lose its market value temporarily. If you are considering it the death of Bitcoin then I am damn sure you are not familiar with the past events. Hold on Binance has nothing to do with the fundamentals of the Bitcoin.

Did you forget all of these?

MTGOX
Tesla
Luna

You can find more on my covered topics a bit of my own topics promotion is not wrong haha.

    
Major Dumps in Bitcoin History and What to learn from there?  (https://bitcointalk.org/index.php?topic=5418420.msg61188425#msg61188425)
Bitcoin & China time to time waving History  (https://bitcointalk.org/index.php?topic=5434800.msg61598000#msg61598000)

Mt Gox was launched in 2010, and between 2013 and early 2014, it was one of the biggest exchange in the world handling about 70% of bitcoin transactions. We all know what happened to Mt. Gox, how it was hacked and how the story ended, but bitcoin is still standing. Binance is the biggest centralized exchange in the world with the highest trading volume of bitcoin of about $7.3B according to stats available on coinmarketcap. If the US government succeeds in finally shotting down Binance it would definitely have an effect on the crypto market generally on the short term, but I don't see any way how it can harm bitcoin.

Bitcoin will not be adversely affected if Binance goes down. Because we saw when Luna, FTX turned into a scam. Then the Bitcoin market went down a bit but after a few days the market returned to normal levels. But even if Binance were to be wiped out, Bitcoin would not be badly affected but would bounce back if the market went down a bit. If the market goes down badly people will panic and they will decide to sell crypto. But Binance is a trusted exchange where people invest a lot of money.  So this exchange is very unlikely to be hacked or bankrupted so easily. Binance currently has very strong KYC systems so it won't get hacked that easily. Where the most trusted exchange in the world and its popularity is the most and Cz- is a trusted person in cryptocurrencies. I think even if Binance leaves the exchange Bitcoin will not suffer but the market will crash badly for a few days.

Yes, Bitcoin price action will be affected but not the life of Bitcoin, because the bad news will pass and Bitcoin will move on, with Binance recovery or death, Bitcoin gives no f* about any exchanges, Do you know that once upon a time in crypto space, Binance is not the first leading crypto exchange? There are many top centralized exchanges that have died off the same way that FTX ended up, the likes of MT.GOX and others failed to kill Bitcoin, it will be the same if the Binance exchange goes down.

Similar to what happened to the market previously when the ftx exchange went bankrupt. Following the announcement of the bad news, there was a massive dump of all cryptocurrency. Even Bitcoin, the most powerful cryptocurrency, saw its price fall. Ftx was not the best exchange and continues to have an impact on the market. How much more if the number one exchange goes down? It will undoubtedly have an impact on market prices. Binance is the leading exchange, with a 24-hour volume of around $7 billion. Consider what will happen in the market if $7 billion is subtracted the next day; the price will undoubtedly fall significantly.

Well, the round and table are now being turned in favor of Binance US'. We've seen the effect of it and that's what will happen every time there is a big-time exchange that's being played by SEC or if something wrong happens to them.
Just remember that whenever these incidents come, they're all gonna affect the market for a short period of time and then Bitcoin will still stand on its own not gonna notice those every bad news that has come.

Speaking of Binance it only affects binance.us, there has been much news saying that binance.com will not be affected because the SEC's working area is only US.

Regarding the incident experienced by FTX, it is certainly different from Binance.
FTX is an exchange managed by a greedy and criminal CEO, but binance is managed by CZ, who is a CEO who does not have any contradictions so far.
Many issues arise corner CZ so that Binance's credibility decreases. This is the impact of the FUD that is happening right now.

We see now, the current decline is certainly much desired by Whales to get cheaper prices because Halving will soon occur in 2024, and we can already shoot Halving will be a party for whales to get a lot of benefits.

So, we have to see the positive side of the Binance.us Vs SEC legal dispute incident, this will quickly pass and the crypto market is bullish again. 

It's up to you how to judge binance and CZ is the face of crypto to date because binance is involved in it. The losses may have been triggered by panic causing chaos in the market in the short term and consequently causing people to try to withdraw all the coins and bitcoins on the binance exchange. The threat may be only for exchanges and for some coins, but for bitcoin it is never affected in the long term because in the past we have seen how FTX and bitcoin still work as they should.

The point is there will be exchanges that emerge with new faces and die in the crypto world, so it doesn't really matter whether in the short term bitcoin is affected or not. Because in general bitcoin does not follow exchanges, but instead talks about the effect of the problems faced by exchanges caused by panic in the market on people withdrawing their assets.

Binance is the most trusted crypto exchange, and it's also a huge crypto business. Even the lawsuit has a mild negative impact on the market, so going down would probably be much worse. We've seen exchanges go down in the past, and that can temporarily cause significant damage.
That being said, I don't think Binance can cease to exist. I think they'll try to settle the lawsuit and continue operating, and if not, they'll stop operating in the US, but the US isn't the whole world.

If they don't scam, they will continue to exist. Because you mentioned about "exchanges go down in the past", I'd like to quote BitMEX exchange and their former CEO story.

• Federal Court Orders BitMEX to Pay $100 Million for Illegally Operating a Cryptocurrency Trading Platform and Anti-Money Laundering Violations (https://www.cftc.gov/PressRoom/PressReleases/8412-21)
• Former BitMEX CEO Arthur Hayes Sentenced to 2 Years Probation (https://www.coindesk.com/policy/2022/05/20/former-bitmex-ceo-arthur-hayes-sentenced-to-2-years-probation/)

That exchange has continued to exist and operate until now and I believe Binance will not die. They are a serious business and a game changer in this industry. They are different than FTX as they are better and more careful with risk management. They are seriously do as best as they can to comply with current regulations.

Settlement between SEC. and Binance about SEC. lawsuit against Binance US. is on-going.

Generally SEC. is very arbitrarily to sue cryptocurrency projects and exchanges with their current Chairman Gary Gensler. I'd love to see the recently legislation from the USA. Congressmen to fire Gary Gensler. It is not the battle of only Binance exchange but of the whole cryptocurrency industry against SEC. and Gensler.

If it's binance.US only, CZ will just laugh at this. The court though will try to bring CZ to the court which is likely not going to happen. CZ knows the threat that he may not even go out of the court and will be held for years until something is gonna be negotiated. Such a dirty game. However, prices will definitely go down. There is a chance of CZ fighting back by just lobbying those who want Gensler out of the office.

Binance.com will continue, crypto will also move forward no matter what the price will be. 

Just as it hurt with FTX, more or less. People would pretty much be mad again, they would not believe their eyes that after the collapse of Mt. Gox, Bitfinex, Coincheck, FTX etc., another shit-exchange would go down too. It'd be impossible, they're very secure etc. By the way, Binance got breached in 2019 and lost some millions if I remember correctly. But yeah, it'll neither happen. They're quite safe now. Granted.  ::)

Bitcoin would recover in a few months later, because that's what happens always.

Binance had lot of fan all around the world.If the binance had any negative towards the game,we can able to see the impact in the community too.Most of the people had their funds by submitting the Kyc to the binance.The Binanace made the level 2 kyc to use their exchange,So the binance will be the trusted with my opinion.We need to wait some days for the exact results of the crypto exchanges and Crypto currency market with this impact of Binance to the bitcoin.

Due to the influence of Binance over the crypto market, there is a possibility that the crypto market will be affected if Binance goes down.  Since Binance being one of the largest crypto exchanges, anything relating to it will affect Bitcoin.  Aside from that people who wanted to manipulate the market can cause the case of Binance to pull the Bitcoin price down so that they can buy more Bitcoin at a lower price.  Despite of this effect, I believe that it will be temporary, and eventually the crypto community will just move on and eventually forget the case of Binance putting the market into its natural path.

Thats prof right there!

The question in the thread title is very specific

Bitcoin is bigger than anyone one person, exchange, miner etc. It is decentralised
so it would remain unhurt, it has suffered many events such as the above Mt.GOX
and attacks from high profile people trying to discredit it over the years and it still
stands strong

What would really happen is the markets would have a big reaction to the event of
Binance going down, traders and people suffering from FUD would cause a bit of a crash,
it would all be very short term though and would be chalked into another chpter of
Bitcoin's history.

That's true, especially for those of us who got on Binance in 2017 immediately after its launch. Then it was KYC free and without trading commission. It's really nostalgic, what a great time with Binance those days. Like you acknowledged, CZ is a popular name in this industry and he has done remarkably well for himself and the entire crypto industry.

Frankly, I don't see Binance shutting down hitting Bitcoin to a massive dump. No doubt, it will shock the entire market but it won't be for long before the market shakes it off. On the US motif, I think the hypocritical SEC is over playing its hand on this. Let's keep watching and see how all this will end.

It's just a momentary panic, and prices will recover within a matter of months. This is not a new mishap for the cryptocurrency realm. In fact, there have been numerous negative reports prior to November 2021, yet Bitcoin, in reality, reached its all-time high after those news emerged.

The United States orchestrated the drama prior to the halving, undoubtedly a strategy to acquire Bitcoin at a lower price for big investors. We haven't heard such news for a long time, and the timing couldn't be more perfect, considering we're nearing the year 2024. And we know it's a year worthy of celebration.

Being one of the biggest exchanges Binance has a significant impact on the cryptocurrency industry. Any Binance related developments could have an effect on Bitcoin and the overall market possibly leading to a brief slump if Binance has problems. During these periods market manipulation may happen as some people try to purchase Bitcoin at a discount. But the cryptocurrency market has proven to be resilient adaptable and capable of overcoming challenges. Despite Binance importance it is only one component of the broader decentralised ecosystem. Because of the market diversity innovation and decentralisation no one organisation or event is able to exert total authority. While dealing with concerns involving significant exchanges is crucial the decentralised structure and resiliency of the crypto community lay a strong platform for long term growth.

I don't think it's going to impact bitcoin any more than CZ isn't a bitcoin owner unless it refers to BNB then it's bound to happen but for another implied boom in bitcoin I wouldn't believe bitcoin would be any worse but for a bit of a correction, I think this is reasonable thing.

Yeh US is a market threat but it's only for part of the region but globally it can't influence that resulted in the market going down badly even I saw on twitter BlackRock and other US banks bitcoin in large (https://twitter.com/WhaleChart/status/1669237106583928833) quantities is this maybe a sign where they are doing anything to buy more bitcoins in preparation for Halving 2024 later?

Bitcoin's in its little own ecosystem, nothing but direct economic factors and allegations flung straight against it will cause bitcoin to lose value. With that being said, Binance is one of the biggest gateway exchanges out there for newbies to use and learn the basics of crypto from, thanks to their user-friendly interface foremost, and their nifty tutorials and masterclass lessons they willingly offer for free. Binance going down might cause bitcoin to lose or stagnate in value for a while, since a lot of hopeful bitcoin newbies will lose their access to bitcoin and other cryptocurrency, but at the same time given enough time Bitcoin will bounce back on its own and will recover soon. So it's not like it would cause bitcoin's demise if Binance couldn't make it against their fight with SEC.

Since CZ is not Satoshi Nakamoto, it will never have any effect on Bitcoin. This is just an exchange not a body or a project. If the sec is able to sanction cz, this will have minimal effect on us but Binance would have to leave the United States which I am very sure that the court will not want this to happen.
The matter is already in court and we hope to see positive outcome because it won't be a good news for me if Binance is finally sent out of the United States.

I don't think so. Binance exchange and bitcoin wallet are not connected so it will not. CZ is not the owner of bitcoin so it will not. They operate different class with different nature. The Binance exchange only serve the purpose of bitcoin. Satoshi Nakamoto create bitcoin for p2p transactions which Binance is using it as part of is service.
The accusations level against Binance has do with bitcoin. Though the are fighting against bitcoin indirectly but they will not succeed.

Bitcoin or Crypto would surely be hurt whenever a big player or company goes down,
Just imagine how many traders are using it and we could assume some of them only got into crypto because of trading and it is their only trusted trading site, for sure some of those would quit while others would look for alternative.
The impact would surely be felt but I think it could only be for a short time.

Bitcoin will be affected if Binance goes down, similarly to how it was affected by the Mt.Gox and FTX exchanges' falls. Just because Binance is closely related to BNB doesn't mean that only their coin will crash; such a disruption causes a chain reaction of events. Binance holds the largest transaction volume; such news would cause a disastrous disruption in the market, leading to a bloodbath that would take Bitcoin with it. So far, it's doubtful that Binance will shut down completely; there's no way it's happening. Perhaps it could stop operations in the USA, which is still negative and will cause a minor drop that may last from a few weeks to a few months in the worst-case scenario, similarly to how the market was affected a few months ago with the FTX exchange.

I will give a wired instance, which you might well not understand or you might, but here it is: perhaps you know what the word "wood" is. Yea, if you set up a fire under the sun with some woods and the fire is blazing very well and you decide to put out the fire by pouring water on it, don't forget that the blazing of that fire may stop at that moment and those woods will start smoking, but immediately the water dries up (don't forget that the fire was set under the sun), the smoke will stop, and the fire will begin to blaze again.

That's to say that if Binance, which is very popular, most used, and trusted by many people, collapses, the Bitcoin price can get a bit lower because of the bad news, but that will not last a year before the market can begin to recover again. In crypto, it usually happens that something will cause the market to drop, and another good thing will help it recover.

Cheers 🥂, Dr.Bitcoin_Strange 👺👺

Yeah, if a big, I mean the largest exchange in the world goes down, of course it is going to affect the whole crypto market. It is going to be ugly since everyone will be pancking, but remember that, bitcoin is decentralized and "a single" entity can never take down the whole bitcoin market. What we will see is some short term after affect on the market, but eventually the market will recover and start to rise again. It has happened before and we have seen how the market eventually recovers and survives everything.

Only in their country you say. You might as well want to keep in mind that other nations would like to follow suit and US as we know it always tries to find a way to instill there policies on other nations and a lot of nations, developing nations to be precise with an intention to benefit from foreign aids would oblige to a binance or crypto exclusion.

This could be an attempt to attack the giant before migrating to other smaller exchanges in the industry so as to impose there policies on them but as well, it would be a push towards a more private and decentralized exchange.

Yea, that's obviously the truth. I guess countries have already started doing it. There are people who just want someone to raise an issue, and they will follow.

This is really the right time for most projects that see centralized exchanges as the big deal because of the large trading volume to start redirecting their steps and choosing a few better decentralized exchanges that they can use as an alternative because they're even safer, and listing will also cost little to almost nothing compared to that of the centralized exchanges.

Assuming that Binance indeed goes offline, lots of exchanges would now be affected by this kind of damage.

Binance is without a doubt one of the most trusted exchanges in the market due to its market cap and liquidity. At least almost a majority of cryptocurrency holders have used Binance once in their life as it is considered one of the pioneers of exchanges. It has built its name and reputation from countless of transactions as it is now trusted by almost all users.

If Binance goes offline, this would definitely affect most of the exchanges world-wide. Expect prices of cryptocurrencies to plummet as there would be no reliable exchange for users to transact their coins from users across the globe.

Some exchanges that receive favorable aid from Binance will follow suit if the exchange's dump, which occurred in a single day and would quickly broke the entire crypto market. For example, the crashes of Terra Luna and FTX witnessed horrific events in space, and I wouldn't be surprised if Binance crashed, since it has competitors. Should Binance suffers a setback and goes offline or downgrades, bitcoin will not be affected. Bitcoin existed prior to Binance, and it is a self-sufficient prominent initiative capable of dominating the entire market with a single bull or bear movement.

Your view on CZ's success and the potential fallout of Binance' downfall is compelling. CZ's entrepreneurial skill is evident, but can we dismiss Binance' questionable activities? Is reaching the pinnacle the only goal? If US authorities exert their regulatory powers, wouldt the collapse of Binance reverberate globally? Could this not darken the crypto world's horizon?

Indeed, Bitcoin' value may wobble or take a significant dip. But havent we already weathered similar crises? Havent we invariably bounced back? Still, should we not evaluate this recurring boom and bust pattern?

Bitcoin will persist, but at what toll? How many more upheavals until we secure stability and broad acceptance?

You are 100% correct it would surely have a big impact if a large player or organisation in the bitcoin industry were to fail. There are a lot of traders that use these platforms and for many trading cryptocurrencies has replaced other types of investing and income. Some people could decide to completely leave the market if their dependable trading site suddenly went down while others might rush to locate new platforms to carry on with their trading. However it is plausible to anticipate that the impact would be very brief notwithstanding the initial shockwaves. As evidenced by previous moments of market turmoil the bitcoin ecosystem is renowned for its adaptability and durability. New platforms would eventually appear and traders would slowly restore trust but with more caution. In the end even while the loss of a large player may temporarily cause turbulence the crypto market has demonstrated its capacity to bounce back and develop making it a robust and dynamic environment for traders over time.

The market volume is controlled by Binance to most extent and if anything happens to it the market will be affected badly for a temporary period as btc is not dependent on them in long run but at this time they have highest market share and huge user base with them.The billion of dollars worth of coins will be wiped and you should check how many Bitcoins they hold and then imagine the impact for it.

It's not the way you are seeing it because the market don't exactly work the way bitcoin is designed as when Binance will go down the market will be affected because they hold btc and liquidity will be out while billion dollars loss would be there even if CZ not own btc.At this time they are main exchange globally and volume of transactions is so high so it would certainly affect the prices.

Binance is the largest cryptocurrency exchange. If it completely stops work, the cryptocurrency will fall very much! The market will hardly be able to recover in 3-5 years.
But I don't think it will happen

In my opinion I think It will give a big impact on whole Crypto industries. Even though I don't like centralized exchanges but I have to say that Binance is the most biggest exchange platform in this Cryptocurrencies world. The journey of this exchanger has started on the 2k17 and after then it is gaining huge success gradually. And it has become a big part of the cryptocurrency world to get success. But it doesn't means that Bitcoin will goes down for ever if this exchanger goes disappear because before Coming it on the market Bitcoin was running on its own way and after It will do the same but if Binance goes down them I think it will be take little time to get recover.

Not sure what made you look at the KYC as annoying when you are talking about centralized exchanged? meaning they are complying with governments concern so KYC is a must , if you don't wanna comply then never use centralized exchanged at all.
if you also believe that CZ is most credible faces then you should listen and follow what the company asks yo?

but about the affect in bitcoin , this will only be a short term issue and believe me that it will changed eventually .

Yes, both are completely different and have no relation to each other. But both co-exist and develop in a common environment, so it is inevitable that one of the two collapses will seriously affect the other. The SEC's charge against Binance.us alone sent the market down, and bitcoin is no exception. So if global Binance crashes, bitcoin will surely be hit hard. But of course, bitcoin will not be able to completely collapse because of Binance, but it will take a long time for everything to return to normal.

I actually think that if Binance really does fall for whatever they're going through, then there's going to be another exchange that makes it big in the crypto space with a lot more users. Because users who used to use Binance will definitely move to use other exchanges that are no less good than Binance even though the effects caused by this are not wanted by many people, which might result in a decline in the price of cryptocurrencies.

Even though this can recover when market visitors are completely safe and comfortable in their new place and this is starting to remind me of the FTX case which also fell, causing several cryptocurrency prices to also fall. But apart from all that, right now I don't think that Binance will really fall because Binance has its own way of solving every problem and developing their exchange to be better for the future.

This is true.  There will always be other exchanges. But then it might lead to more troubles because people will now start using various exchanges and they might not know which is trustworthy and which is not. For an exchange to be as big as Binance, it will take time. It takes time to build trust, especially the kind of trust that Binance has built with its customers.

If Binance completely does down, it will affect Bitcoin price but that's all it will do. I don't believe it will go below $16k though. 

I also don't believe that Binance will collapse just because of the SEC's baseless accusations because Binance is not cheating and is not as bad as FTX did. But in the distant future, it is difficult to say with certainty that they will continue to exist and develop, anything is possible. I'm still using Binance, but I can't rule out the possibility that it will crash in the next bear seasons, but not this time.

You are underestimating the influence of Binance, I even believe that $5k will be easy if Binance really crashes, and it will take us at least 3 to 5 years to recover everything. The dominance of Binance is unprecedented, no exchange has done this to date, not even Mt.gox.

Binance can be trusted because of their reputation, but we can't guarantee they will stay the same in the long term as things can change over time. I expect everyone to treat Binance as just an exchange, so it's not a safe depository for their assets in the long term.

You're right, and it's even harder to avoid a big crash if Binance goes down forever. If in the future Binance crashes, then an adverse impact on the bitcoin price could occur spontaneously. People will turn this case into a lousy FUD and will continue to drive the bitcoin sell numbers even lower. If Luna, FTX and some other cases can affect the volatility of the bitcoin price, then of course it is true that bitcoin will also have a bad impact when Binance goes down especially about the price.

I'd say yes due to FUD. Binance is simply the largest exchanger and its downfall would really result huge market price downfall due to large investors who would sell their holdings to avoid their assets to be eaten by the exchanger itself. Downside of centralized exchangers wherein investors are not having full control of their holdings. Even if it is not a total downfall, things would still be the same 'coz what happened with FTX would be more likely associated with this possible instance. And if we would go back with the mentioned problem, the market prices fell during that time, therefore it left an impression causing people to panic as well.Fortunately, Binance managed to prove itself just recently about the lawsuit. Something expected for the largest exchanger and for sure they won't allow its downfall to just happen in an instant and that easily, they are expected to fight it out. They have the money to do so, in the first place.

If Binance does not feel guilty and has not violated anything, then they have the right to defend themselves even if they have to hire a lawyer during the trial. Their success against the lawsuit has had a positive impact on the market where as of now the market has also shown recovery after the price dropped below $25k.

The fact is true that Binance or any other centralized exchange will be able to have both positive and negative impacts on the market. But I believe, the impact will not last forever because bitcoin has nothing to do with a centralized exchange. Exchanges are a facility for traders and investors to buy and trade assets, but exchanges are not the only way to trade bitcoins.

Bitcoin's gonna receive a gut punch for a while and may even lose value just as what happened when the Terra Founder was found guilty of corruption, mind you that cryptocurrency was not even related one bit to bitcoin and the whole industry still suffered the consequences. So it's quite possible for bitcoin to floor even if Binance goes down in the US. However, there's also a great possibility for bitcoin to bounce back soon for some reason just as it did in 2020. There's no good reason for bitcoin to pump in value back then since it was during the height of the COVID0-19 pandemic and people are frantic left and right trying to find ways to make ends meet and stay alive and yet it did.

Plus all the evidences leads towards bitcoin losing a significant amount of its valuation if and only if Binance is to go down, it has happened before with FTX and other Exchanges, the repercussions will be even more severe if binance were to go down.

Binance has the right to defend itself during the trial and will prove that they did not commit the alleged offenses. Based on recent observations of the case Binance.us has stepped forward in the winning position and the judge is also likely to dismiss the SEC lawsuit if it cannot be proven, if binance wins the case it will boost investors' confidence in Binance and cause the market to recover quickly. However, the legal process is still ongoing and no final decision has been made, so we really hope that the best decision goes to Binance.

Binance can have a significant impact on the bitcoin price because the Binance exchange has high liquidity compared to other exchanges, even if the case only impacts Binance.US but the impact ratio is high for the bitcoin market. The fact that the price of bitcoin is based on supply and demand although it can be traded without a centralized exchange as there are options for decentralized exchanges (DEXs). I don't want to speculate further on this matter and I am very confident that Binance will handle this case well and the market will return to normal due to the important information that there was no freezing of customer assets from previous lawsuits.

Building a reputation on the exchange is hard and I don't think CZ is going to let binance just sink, but we also don't know what the future holds for binance, because as you said things change over time. The exchange should only be used for trading and not a place to store assets, but sometimes people don't consider security which in the end they themselves take the risk when the exchange goes bankrupt or frozen.

There is always the possibility of an exchange running into trouble and in the past we have seen how the case at FTX and bitcoin or crypto market conditions in general corrected badly. It's no wonder why in these conditions bitcoin experienced a decline caused by panic and traffic that occurred on the exchange, so logically this only develops in the short term and will return to normal when the market is on its way to recovery.

Today all of us have seen bitcoin show recovery and I think this kind of traffic we have seen a lot in the market. So we know that something that happens on the exchange will definitely have an impact on bitcoin or other crypto, not only binance and maybe when other exchanges experience problems there will also be a market chaos process that results in bitcoin being corrected.

Believed me or not, I actually think most crypto users are already getting prepared for the worste to happen because of the trend of previous event that has affected the market. Binance is currently the number one crypto exchange in the whole and there service actually closing will affect the crypto market badly but one thing which most certain is the fact that the market and humans will adapt to this change as its constant.

That is very much expected if any big exchanges will have some troubles and worse shut down, especially if it's Binance who have already been trusted by the public. But all of this will be temporary and the prices may go down for quite some time while investors are still figuring out a way to find another trustworthy exchange that can replace the Binance, after that, there will be a correction that will restore the order and so the prices will rise again after the doubts.

No one can predict how bad the situation or the snowball effect may be on the industry, However just as Bitcoin and the entire crypto market survived the FTX contagion, the Same hand will Bitcoin survive should Binance go out of business, even though they are the biggest exchange out there. Altcoins/Shitcoins will take the biggest hit of it and many altcoins will not survive this event.

Consider this: If Binance were to face collapse, it could potentially lead to the collapse of the entire crypto market. Binance holds significant control over a substantial portion of the crypto industry, essentially dominating the exchange landscape. Just like the repercussions that arise when a king passes away, the cryptocurrency market would experience a considerable impact if Binance were forced to cease operations or be seized by the US.

Nonetheless, even in such a scenario, I hold the belief that Binance would continue to operate and support various cryptocurrencies, including Bitcoin. Even if the United States were to terminate its collaboration with Binance, it is unlikely that the platform would halt its services worldwide. Binance has established a global presence and would likely persevere, providing continued assistance to the cryptocurrency ecosystem.

For sure if Binance goes down it would make a big effect on Bitcoin, Binance is probably the biggest cryptocurrency exchange in the market, and similar to what happened to FTX it is surely going to have a huge impact on the market price of Bitcoin, it would create a lot of FUD in the market. Imagine how risky the crypto is to think that the biggest cryptocurrency exchange goes down compared to some small investors. However, I don't think it's going to take Bitcoin down when that happened.

The market is surely going to be affected but it doesnt mean that Bitcoin is going to die, I mean the drop can be a good thing because it is a good opportunity to invest, personally, I would like Bitcoin to have a huge drop because that is the opportunity to create more profit in the future. Where all know the risk of cryptocurrency and all of this FUD doesnt matter anymore.

And the impact is likely would make doubtful individuals get panic. The price of Bitcoins will get affected and dumped but not going to the point that it turns back low like in the first quarter of this year. CZ is a known person and has market influence, and he would do something to save his reputation and retain his business. That is why despite the issue against the SEC, I was still confident that it will be resolved. Besides, the SEC doesn't target Bitcoin but only Binance, so it did not necessarily have to worry.

I do not think that the collapse of Binance will lead to the collapse of the entire market.  I think that the entire crypto market will be shaken but it would be temporary only.  There are lots of exchanges available in the market so I think it will only take some time for the effect of Binance collapsing to the crypto market and eventually the cryptomarket will become stable again.


Unless the owner, CZ got caught and unable to pay for his discharge due to many cases file against him.  I also agree that Binance will continue its operation and just avoid the US jurisdiction.

I also don't believe that Binance will collapse or shut down just because of the SEC's baseless slander.  people are obsessed with the collapse of FTX, but they don't try to compare the difference between Binance and FTX, they always assume that all exchanges are the same.  but if in the worst case Binance crashes, it will be very bad and catastrophic for the market because their reputation and role in the market is huge. As far as I know, binance's trading volume is equal to all other exchanges combined, which shows that their dominance in the market is huge.

https://www.talkimg.com/images/2023/06/20/HmxEv.png
I am still studying the charts diligently, seeking to gain a deeper understanding of the potential outcomes and their connection to recent events.

I perceive this as a grand scheme orchestrated by the whales. The decline in Bitcoin's price is quite customary, and I had actually foreseen it happening prior to the halving. I hope the upcoming halving scenario won't deviate significantly from the previous one, allowing us to witness a new all-time high (ATH) by 2026 at the very least.

100 million is nothing for Binance to be fair, and they are not illegally running an exchange neither, they are valid legal company that has a .us company that deals with all the legal parts and making 100 million per month at least, probably more.

So, the maximum fine they could throw at the binance corporation, they can pay it and still continue, they will fix whatever caused them to have that problem, and not do that again, but they will continue without a trouble. Think about how much money this company makes, they are making tens of billions of dollars per year, it is just not going to be possible to stop them at all, it's just not possible. They will figure out a way to throw money at other politicians, and I mean like 30-40 million per congressman and 100 million per senator and they would still be rich and could run the whole nation. They do have the money for firing Gary for sure, easily done.

You must be reading too much crypto mainstream articles. CZ iz by no means a prominent, or credible figure. Take his involvement in FTX drama as an example.
I don't like the SEC but CZ is not a clean guy. He's making a lot of money from listings and he lists all the shitcoins that pump when the news of them being lister comes out and then bleed to eventually be reduced into nothing and delisted.


It depends what people holding bitcoin on Binance would do. If they'd dump it all the price would crash, but they could also move it out of the exchange without selling.
The honeybadger will still be there doing its thing. In 2020 the price crashed and in 2021 made a new high like it was nothing.

Any big exchange have great impact for btc price. Any problem and btc will go dipper and dipper

In the first place, I never worried about Binance because this problem was not too serious, and I think just needed money to be able to solve it easily. I really haven't been too worried these past few days.

Bitcoin has nothing to do with a centralized exchange, but they are linked by investors. We use exchanges and bitcoins, so once something goes wrong, it will directly affect investor sentiment, and we are the ones causing the bitcoin dumping, not the exchange's fault. So I don't believe that the impact of exchanges will diminish over time, as long as we still use centralized exchanges to trade bitcoin, their influence will remain.

Because the problem that Binance is facing is only for those in America. So it won't be a big problem. And fortunately now the issues have started to meet common ground because Binance and the SEC have made an agreement which has also been approved by the judge. And very coincidentally after this problem was solved then the world's big companies started to move (Blackrock & Fidelity) and are applying for spot Bitcoin ETFs in the US.  ;)

Binance would cause a crash in price due to FUD more than due to them selling their Bitcoin holdings, if they decided to sell them, which in the case of a legal lawsuit being lost or something similiar I guess they would have to.

But in the long term I would say Bitcoin is safe with or without Binance. There is absolutely no reason for centralized exchanges in the first place. They are just the poor-coiner's way of lazy Bitcoin purchasing/selling.

Nobody with a brain trusts the exchanges enough to even store their coin on an exchange.

I would not blink if Binance crashed tomorrow. ::)

No matter what people say about the Bitcoin movement related to Binance. But, the market will be affected if Binance collapses. If 1000 Bitcoin buy or sell can move the market five to ten percent, imagine how much it will be affected when 0.6 million Bitcoin are on the move. The obvious thing is Bitcoin will recover eventually. Don't panic sell; you have to hold tight for a long time to recover the loss. Nobody knows how long it may take to recover the loss. But it won't happen overnight.

However, If I am not wrong, only Binance US was charged. The leading Binance platform is out of the control of the SEC. Most users are still safe as they (Binance) did not move their coins anywhere. But, if you are a Binance user, you should move your coins from Binance for security reasons.

Why not? There asset will be freeze if the case proceed so still there's a big impact it can cause especially when fud build up and for sure many people will bit it then start to dump their assets because they can't afford to see another heavy crash will happen. But still the same with other issues exist it will just be a short term cause of problem since binance can operate globally so for sure the same as what happen before price would recover after binance issue pass.

The SEC saga with Binance and other external factors are just stumbling block and they may temporarily try to influence the market price but Bitcoin keeps rising, and shooting for the skies. All those weak hands that didn't have faith in bitcoin when the price took a little dive to $24k, I wonder where they are keeping their faces now. Some persons panicked and sold off their asset. Today it hits $29k and it is retracing it step back to the $30k price mark. Bitcoin is one cryptocurrency that has proven itself over and over, and no government or entity can stop it or bring it to it knees. Binance can crash today but Bitcoin will still be standing, and It will keep rising like a phoenix from the ashes.

It would be badly hurt in big scale because Binance is one of the most reputable exchange out there and if Binance goes down, Bitcoin's price would be dumped really bad. Even small exchanges could affect the price and imagine if Binance having the same fate as those? But in the end, Bitcoin's price will be recovering after whatever happens, it just takes time to recover.

I really don't think this will happen but seeing the recent FUD between the SEC and BinanceUS, I just think it is a form of more reasonable pricing, we all understand the story of the name Binance how popular they are in the crypto market so their attention and market share competition in this market will have to happen. Assuming the story leads to a negative issue like the cases from FTX or terra, if one of the largest cryptocurrency exchanges in the world, collapses, the cryptocurrency market will have a very strong move and can cause drastic swings in the prices of many cryptocurrencies. Some investors may panic and sell their cryptocurrencies, leading to a deep drop in the price of cryptocurrencies, then we can imagine the magnitude and scale of volatility many times over, and it will again take some time to recover everything. Of course, the market will continue to exist and develop over time, but that will probably be more unlikely, as we will see how things react in recent days.

In My View, the impact of Binance going down on Bitcoin would not be significant as the issue primarily affects users in America. Fortunately, Binance has reached an agreement with the SEC, which has been approved by a judge, resolving the situation. Interestingly, following the resolution, major companies like Blackrock and Fidelity have begun to take action by applying for spot Bitcoin ETFs in the US. This indicates a positive shift in the market, suggesting that Bitcoin's prospects remain favorable despite Binance's temporary setback.

If you pay attention to today's market conditions, there is an illustration of how bitcoin has experienced a gradual recovery from the SEC lawsuit against binance. The effect is only short term and I think bitcoin has gone through that process for now. Even though binance is a large exchange that has a good reputation, in reality not all of the impact that was caused by them made bitcoin corrected in the long term.

The loss you mean also doesn't have any effect when the user doesn't look panicked by the conditions that are happening, so that at the right time bitcoin has recovered as it has in the past few days. So this is an illustration, that when an exchange experiences the same problem, you don't need to worry too much.

Despite impactful incidents like the SEC' clash with Binance, Bitcoin's mettle outshines. Given Bitcoin' intrinsic decentralized character that diffuses any single authority's control, its hardly a shock. Its crucial not to undervalue the power of perception and user confidence. As you accurately pointed out, the absence of widespread panic was instrumental in Bitcoin's value rebound, echoing the power of our collective faith in Bitcoin's robustness and potential.

However, I believe this highlights the urgency for definitive regulation. Addressing such predicaments in a structured manner could heighten Bitcoin's credibility. So, even as we commend Bitcoin's resilience, we must simultaneously advocate for a transparent, balanced regulatory framework that serves users and maintains market stability.

It is difficult to predict the exact impact of Binance going down on Bitcoin. It is worth noting that Binance is currently one of the largest cryptocurrency exchanges in the world, and its trading volume accounts for significant portion of the overall cryptocurrency market. If Binance were to go down, it could potentially lead to a decrease in trading volume and liquidity for Bitcoin and other cryptocurrencies. This could also cause prices to drop in the short term, as there would be fewer buyers and sellers in the market. It is important to take note that the cryptocurrency market is highly volatile and unpredictable. There have been instances in the past where major exchanges have gone down or been hacked and bitcoin has still managed to recover and reach new all time highs. The long term impact of Binance going down on bitcoin would depend on variety of factors including the reason for Binance's closure and how quickly it is able to recover.

There are always those who play a part in creating unfavorable conditions in the market, the SEC and Binance are two examples that were able to play a state of panic on people investing and ultimately cause bitcoin to correct. But back again as I said, that this is only in the short term and the self-control of each individual involved in investing is very important.

What kind of regulation is meant, apakah ini terkait dengan pertukaran atau apa? because I don't think bitcoin needs any kind of governmental or institutional regulatory framework to make it more independent. The resilience of bitcoin is precisely due to the absence of a regulatory authority so that people are free to control investments independently.

It will be a crisis that will seriously affect the entire crypto market if Binance goes down. As we all know, CZ and Binance are powerful empires that have been around for quite some time in the cryptocurrency industry. And there are many people currently using Binance's wallet to store assets as well as daily transactions. So its collapse will deal a stronger blow than when we know that the top 2 FTX exchanges crashed in just a week and its consequences were huge. So the consequences affect both the negative and positive sides of crypto for people and make the crypto trend changeable.

If we start to think, Binance was created years after bitcoin came to the fore, so if it disappears, many people will probably choose to use another Exchange that suits the needs of the users or simply create a new one that fulfills the same functions. and even with other adaptations…….However, studying the panorama a bit, I have been able to notice that this platform is one of the most used currently, it has come to gain great fame and a considerable number of users, so if considered that it would somehow affect the value of bitcoin, since despite the fact that this asset has no relationship with fiduciary monetary operations (for example, inflation), it is affected by demand, so if people (mostly inexperienced) goes into crisis thinking that it would be the end of bitcoin, the graphs will express low fluctuations.

It would not, unless Binance is found to be a scam like FTX. If Binance simply says they're shutting down, allowing people to withdraw their money, there's not going to be much damage.
Also, FTX happened in a bear market which multiplied the effect.
You have to realize that most bitcoin is currently held offline, so an exchange imploding can't have a long lasting effect on the price because it can't affect too many people. I, for instance, have 100% of my coins offline.

I’m thinking the opposite. Maybe crypto market will experience price dip during the initial day prior to the announcement but Bitcoin will surely recover since it is not directly connected to Binance. If there’s any coin that will be heavily affected then it should be BNB and BUSD since that is their native tokens that value is based on Binance reserve.

In the scenarion that Binance will fall down. I believe all CZ and Binance asset will be frozen and that means there will be less crypto currency that will be circulating by the time this issue will happened. Binance hold a vast supply of crypto market and crypto will be less volatile without this tokens affectng the market.

Bitcoin price has plummeted in just 24 hours when the FTX crisis has been known, so how much more if the same event will happen to Binance? Surely it will create a massive effect on bitcoin price, the market will definitely turn into a bad shape, hence weak investors will probably be in panic again. That’s the reality if Binance will be put in danger. Not only it’s own company will suffer, but also bitcoin price and the crypto market itself. 

I can't specifically say how hurt Bitcoin will be if Binance goes down, but it will be hurt, that's for sure.
I also do not think the price will be go lower than it did due to the FTX saga. The pressure will most likely come from the regulatory bodies, banks and all those against Bitcoin. They'll come to gloat and say "I told you so"

Bitcoin will survive without any exchange, both centralized and decentralized.
Saying Bitcoin will become non existence because a particular exchange went down, that's like saying the dollar will seize to exist if a particular bank goes down.

What means "hurt really bad"? You mean a price drop? Probably yes. But don't we already have that? Price drops and price rises? That's just called volatility. That's not that bad because sooner or later Bitcoin recovers! Never forget that has a finite supply coin, the long run tendency is a price rise! So, probably yes, there will be price drops. There will be many orders liquidated, but the positive aspect is that will clear some weak hand in the process!

Normal volatility is a little bit different to a large centralized exchange (or in the case of Binance, one of the largest crypto institutions that are still operating) being forced to close operations.

If Binance were to be closed, positions will be cancelled, not liquidated. In an ethically fine event, everyone can withdraw and the exchange will store or sell the excess...maybe, the price won't be drastically effected by this. However, that is a very idealistic view.

It has been reported that Binance have less reserves than exchange balances...this could mean five outcomes:
1. Binance somehow find the difference, buy crypto and allow the balances to be withdrawn.
2. Binance find a way to close without 100% of balances being able to be redeemed. Likely by selling, causing a market catastrophe, buying the difference.
3. Completely liquidating all crypto and paying everyone a share of the proceeds based on their percentage of total exchange balances.
4. Liquidating everything for fiat, strict withdrawal process and buying only when needed to process withdrawals.
5. Everyone gets BNB, all assets migrate to BNB, all reserves injected into BNB.

All seem unlikely, all are possible in the event Binance stop normal operations and need to close. One thing is for sure, it will cause unprecedented waves in the market.

The fluctuations will definitely be bigger than how you are describing it, Binance is the biggest cryptocurrency exchange in the world right now, and I believe it wouldn't happen because the case that SEC is fighting against Binance isn't directly against Binance or CZ it's targeting cryptocurrencies that are being offered by the platform that SEC considers securities and they aren't registered with them, but if Binance collapses or goes down, we will see a big blow in the market for sure.

I know there have been rumors of cases against Binance and CZ before all this happened, but none of them were really proven to be true, so there is basically nothing so strong at the moment that can shatter the pillars of Binance that it has got all around the globe in the present time.

While its fun to imagine such dramatic situations, I think any shutdown would need to be managed carefully and professionally. I prefer your third and fourth scenarios as a crypto-enthusiast who values due process.

First, selling all crypto assets and distributing the money depending on users' portion of overall balances seems fair. Due of its volume, it can cause a major market decline.

To circumvent this, liquidate assets for fiat, institute a tight withdrawal process, and buy only when needed. They assure market stability and user share this way.

Regardless of the outcome, the market would shake. However, it must be handled wisely to ensure user fairness and market stability.

In your opinion, a famous person will have an inert influence on the market. Take a look at FTX, it was the collapse of a major exchange, it caused bitcoin to plummet from 69k =>> 15k

KYC is indeed very disruptive. :)
The impact will be because Binance is currently a large exchange with a large transaction rate.
In general, we can judge from the FTX case that it can have an impact, let alone happen to Binance.

America is not alone, there are several other countries that are players that could be a threat to the coin market including China.
Market control will always be attempted to be done but the goal in my opinion is more for their profit not to destroy crypto.

One thing that I think is important is that Bitcoin will still exist if Binance one day disappears.

Because of big liquidity in the market it'll definitely lead a significant decline.

If Binance shutting down, it would have a potential negative impact that could affect the entire cryptocurrency ecosystem. Talking about recovering from this situation would require a combination efforts from different stakeholders involved in cryptocurrencies.

However, getting a full recovery and restoring market stability would be a gradual process with significant time.

The implementation of KYC that is enforced on the Binance exchange is indeed a bit disturbing for some investors in the crypto sector. Because it's all about the real identity of the user, and that's what makes binance a little bit annoying among crypto investors. But even so, Binance has so far managed to become the number one crypto exchange in the world, and this is enough to prove that Binance is an exchange that can be considered safe and can be trusted.

But with the recent incidents, Binance's reputation among its users has dropped a little. So you could say that Binance is currently in a precarious state. Because if CZ and his colleagues are proven to have committed a criminal act as stated. It is certain that binance will be destroyed and its use will be blurred. That way it will automatically disrupt the crypto market and including bitcoin too.

And when it comes to the losses that will befall bitcoin assets resulting from the collapse of binance(for example). In my opinion, it might be a little big, if only the users on binance don't quickly withdraw the bitcoin assets they have into their personal wallets. Because if this is not done, it is feared that the assets of those who own them will be stuck on the Binance exchange. But if for example the majority of users on Binance withdraw the assets they have, maybe the loss will not be too big.

Binance exchange just turned the best when? There are bigger crypto exchanges before the Binance exchange and they went down, today Bitcoin is still standing strong.

Even if Binance exchange grows in three folds of what it is today, it doesn't concern Bitcoin and moreover, Bitcoin was never created for centralized exchanges, it's the investors that decide to dance to the tone of centralized exchanges, and it's not anyone's business, it means they are ready to take responsibility if anything goes wrong.

There are many crypto investors from America that's why the country plays a major role in crypto investment, it won't make much sense if the US is left out of crypto, this is why I don't like what is going on with the SEC right now.

Indeed, going through KYC process on Binance is annoying as it entails potential privacy risk. However, this requirement is imposed by the countries in which exchanges operate and it is often a legal requirement of local institutions. Despite this inconvenience ,Binance has played a vital role for the promotion, growth and adoption of crypto currencies all over the world.. If Binance were to face shutdown down, I believe it will badly hurt crypto currency market from short to medium term. However Bitcoin has inherent strength and resilience to survive from such crisis. Eventually it will resume its normal behavior and become stable overtime.

Binance exchange will follow the steps of Bittrex exchange as they'll allow users to withdraw all their Bitcoin and other cryptocurency on the exchange before they closed down finally, Binance exchange is a reputable exchange and CZ is a very host human being and won't be as cold as Sam Bankman-Fried was therefore we shouldn't be worried about users losing their coins on the exchange although it isn't wise and safe to keep your coins on exchanges.

If Binance exchange was to collapse it'll affect the market generally and Bitcoin will be affected. When FTX collapse it had its impact on the market and that's because FTX was a big exchange and people got scared which is the same thing that'll happen if Binance goes down.