Is Binance too big to fail?

[inanilujimi]

binance has always dominated the crypto market, whatever the current hype is they will continue to use it in an elegant way, with the high trust of users in binance I'm afraid that if one day they fail it will have a bad impact on the crypto world.

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[jamkesmas]

Binance in my opinion is not a failure but this platform shows that its development is very fast and of course this is far from being a failure, this is the success of a small platform like Binance that can grow and become one of the best platforms that is said to be ready to beat the ethereum network.

[sonofliberty]

I like those educative articles they send me and I believe the whole binance  empire will never fall

[blackened515]

Before Binance exchange there had been some reputable and renounced exchange like bittrex, poloniex, bithump global and others you can mention, Binance hasn't escaped the function of centralization but the fact the BSC is dominating part right now doesn't mean it's gonna influence the crypto space into centralisation, if Binance can create an open source non-custodial wallet, then I will be convinced that Binance had dominated completely.

Sooner from now, Binance will launch her new NFT marketplace, and I believe it's going to be the best amongst all, on the NFT marketplace, I have a feeling that users will pay some amount of bnb to place your products, this will affect the price of Bnb positively to an extent.

[Abiky]

Binance is too big to fall drastically or turn into Mt. Gox, It's much more regulated both self and external. The probable fall of binance would come as a competition. But like dethroning something as bitcoin, it would be difficult to dethrone something like Binance. Exchange like FTX seem a good option but even that uses many aspects of binance and is linked to it.

Binance is too hard to beat these days. Only a strong competitor will be able to take its place in the future. For what I know, nothing lasts forever. We've seen companies come and go as the world goes round. There's nothing stopping a new crypto exchange from gaining traction in the mainstream world. All it needs is constant innovation, mainstream adoption, and strong marketing/promotion efforts to challenge Binance. Things would've been different if Binance exchange was completely decentralized. But we all know that's not the case today. A major hack or government crackdown will put an end to Binance for good.

Nonetheless, it seems to me that Binance's dominance on the crypto market will last for quite some time. It's a force to reckon with, since no other exchange has been able to provide better service and/or user experience in the industry. What matters is that crypto/Blockchain tech stays as decentralized as possible. With decentralized exchanges and atomic swaps, Binance dominating the crypto market is no longer an issue. Time will tell us if Binance will remain as the leading crypto exchange or go all the way down the drain. Just my thoughts

[Kena Banned]

People believe its not and have possibility theres too many fake transaction to increase the daily volume transactions. Market are full of manipulation and fake things, so the data is not really accurate bro.

Yeah right, there are many fake transaction still and traders and investors are aware now.

But given that fact Binance continue to take the first spot and still have many supporters and end users, the dominance still
on it and for now, this business are continuing to estabslish the  long term progress, too big to break and fail as for my personal opinion.

Yeah, but if Binance have any law problem regarding any market manipulation or fake transaction. I think US can shutdown Binance, however its just a very worst case.

[Mahanton]

People believe its not and have possibility theres too many fake transaction to increase the daily volume transactions. Market are full of manipulation and fake things, so the data is not really accurate bro.

Yeah right, there are many fake transaction still and traders and investors are aware now.

But given that fact Binance continue to take the first spot and still have many supporters and end users, the dominance still
on it and for now, this business are continuing to estabslish the  long term progress, too big to break and fail as for my personal opinion.

Yeah, but if Binance have any law problem regarding any market manipulation or fake transaction. I think US can shutdown Binance, however its just a very worst case.

They wont really be making such mistake because if we do consider on how big already Binance is then they wont really be letting the business go down just because of those scenario. There might be some issues but that would be only small and can be resolved or be handled and considering on how big it is on today compared into those previous years then we can really see that they did really succeed into this industry and they do really know on how to handle and run a business but somehow nothing do last forever but basing on the performance and things that they've been doing then for sure they will stay for a while.

[Princejebs]

Provided that complaints are very infinite decimal in number. If customer are having difficult to time to access their money or wrong been executed especially during crash and dump, they may get sued.
There is a petition that's currently going about Binance stop some users trade during market crash in month of May especially the future traders.
They need to account for such mistakes and compensate users for their loss.

[albon]

The Binance platform is a famous exchange with a great reputation and is one of the first giant exchange platforms in crypto, and it is very difficult to fail because it has senior developers and security experts running this platform, This platform has achieved huge success and there are millions of traders on it and there are +300 coins listed on Binance, This is really the first choice for any successful project.

[nowlscor18]

I understand your concern, that this could be a bad thing for the crypto market in the future because if Binance has a fate like MTGox or other major exchanges that also eventually collapse then there will be panic in the crypto market. That is why we have to understand the huge risk in crypto. Currently, Binance is very powerful and their presence everywhere continues to influence the crypto space and no one can deny this, but as long as they do the right things we can trust to still transact there, with our own risk.

I totally agree, if that will happen it's really a bad thing since Binance such too big to fail like how other market also collapses. When you invest in crypto currency world even how big it is, theres a possibility that it will fail in the future, but hopefully not. Binance is very powerful to fail, they influences everything in crypto world. If that will happened, I guess everyone will going to be panic, but still we must need to understand, learn to wait if that really happened and also expect the unexpected to avoid disappointments. As long as we did our best and the right things, we can always trust them to transact or invest with our own risk.

[nurilham]

What's for we are expecting Binance to fall? I am personally one of the fans of Binance, using the platform for daily trade and other activities. And I do think that their power is great enough in the crypto world, the team also creates many big changes on crypto, provide more and more concepts, features, and also other platforms. We know that sometimes, Binance also supports other platforms to be under their management. And so far, it really works.
With this high transaction and also other things on Binance, I also beleive that it is too hard to fail

[Flowzer]

What's for we are expecting Binance to fall? I am personally one of the fans of Binance, using the platform for daily trade and other activities. And I do think that their power is great enough in the crypto world, the team also creates many big changes on crypto, provide more and more concepts, features, and also other platforms. We know that sometimes, Binance also supports other platforms to be under their management. And so far, it really works.
With this high transaction and also other things on Binance, I also beleive that it is too hard to fail

I think the purpose of this topic is to assume possible scenario which lead to Binance fail, also to warn us if theres a possibility of it.
For me, Binance is still a best option to do trade, Bitfinex is my second. But like people said, never save your money on wallet that you didnt have the key on it.

[7788bitcoin]

The Binance platform is a famous exchange with a great reputation and is one of the first giant exchange platforms in crypto, and it is very difficult to fail because it has senior developers and security experts running this platform, This platform has achieved huge success and there are millions of traders on it and there are +300 coins listed on Binance, This is really the first choice for any successful project.

If you go back there were many other giant exchanges in terms of the volume of Bitcoin that went through on a daily basis and with time these popularity keeps changing from time to time and sometimes a major hack would turn the tables against the popularity and sometimes their technical inadequacy to handle heavy loads and the time it took to sort the issues worked against them.

When you talk about Binance, they already had a major hack and they are literally purchasing or replicating everything that is available in the cryptocurrency market space and only time will tell how long they will be functioning without any major issue.

[huu78]

nothing is impossible, but when viewed from binance, the project can be said to be successful and continues to grow and has even become the largest centralized exchange in the world.
so the probability of binance failing is very small.

[xzone]

What's for we are expecting Binance to fall? I am personally one of the fans of Binance, using the platform for daily trade and other activities. And I do think that their power is great enough in the crypto world, the team also creates many big changes on crypto, provide more and more concepts, features, and also other platforms. We know that sometimes, Binance also supports other platforms to be under their management. And so far, it really works.
With this high transaction and also other things on Binance, I also beleive that it is too hard to fail

Most people have the same opinion as you. One of the most important reasons why this year's bull has lasted so long was Binance and the opportunities it offers. Even people who are not related to cryptocurrencies made good money thanks to binance and supported new investors.
I hope these successes continue and we can invest without any problems. But all good things end one day, we should not forget that too

[SFMHodler]

Probably yes, if Binance would go down it would take all the tokens on its blockchain with it right?

[fullhdpixel]

The Binance platform is a famous exchange with a great reputation and is one of the first giant exchange platforms in crypto, and it is very difficult to fail because it has senior developers and security experts running this platform, This platform has achieved huge success and there are millions of traders on it and there are +300 coins listed on Binance, This is really the first choice for any successful project.

If you go back there were many other giant exchanges in terms of the volume of Bitcoin that went through on a daily basis and with time these popularity keeps changing from time to time and sometimes a major hack would turn the tables against the popularity and sometimes their technical inadequacy to handle heavy loads and the time it took to sort the issues worked against them.

When you talk about Binance, they already had a major hack and they are literally purchasing or replicating everything that is available in the cryptocurrency market space and only time will tell how long they will be functioning without any major issue.

I do not think that binance would really be like the old timers stuff, they are just way too good right now. I understand that "hack" could be a thing, but back in the day those hacks were directly hit, like for example mt.gox got directly hacked and they lost almost all of their bitcoins, whereas binance keeps theirs in cold wallets which is unhackable, it is not connected to anything so you physically would have to steal it which is still recoverable as well.

This is a company worth in tens of billions of dollars, probably hundreds of billions of dollars it were to go public in USA, coinbase is not even half of that and worths so much. Do you really think that a company that big would fail via a hacking? I really do not think that is possible and which is why I believe they are not too big to fail but they are too big to care for their security more than anyone else ever did in history.

[dataispower]

Binance is a great company no doubt, no institution is too big fail. Failing to me is superlative there are areas where they their services are lacking and they need improvement on those places I can attribute them as "fail" if I so wish. However, there has to be a very competitive opponent to shake Binance off Binance off the radar or better still a heavyweight attack on the exchange to pull them off the level they are currently.

[no-ice-please]

Binance is a great company no doubt, no institution is too big fail. Failing to me is superlative there are areas where they their services are lacking and they need improvement on those places I can attribute them as "fail" if I so wish. However, there has to be a very competitive opponent to shake Binance off Binance off the radar or better still a heavyweight attack on the exchange to pull them off the level they are currently.

But there is merit to that term too big to fail, no doubt about that. If you reach a certain size and you are systemically relevant, chances are good that government will bail you out if you fuck it up because otherwise all your employees are without jobs. Yes, never say never but we have repeatedly seen in the past that the bigger the institution and the more money and workforce involved, the more likely it is that you will be saved with tax money even though you are to blame.

As for Binance, they are actually really huge. Look at the gap between their trading volume and rank two. It is hard to think of a scenario that that gap will be closed anytime soon as their business model is sound and customers are satisfied. This is not a business where customers quickly change the provider. Liquidity is awesome, service is awesome, product offering is awesome. Binance is in a great spot to say the least and probably for a very long time.

[Josefjix]

Binance is a great company no doubt, no institution is too big fail. Failing to me is superlative there are areas where they their services are lacking and they need improvement on those places I can attribute them as "fail" if I so wish. However, there has to be a very competitive opponent to shake Binance off Binance off the radar or better still a heavyweight attack on the exchange to pull them off the level they are currently.

But there is merit to that term too big to fail, no doubt about that. If you reach a certain size and you are systemically relevant, chances are good that government will bail you out if you fuck it up because otherwise all your employees are without jobs. Yes, never say never but we have repeatedly seen in the past that the bigger the institution and the more money and workforce involved, the more likely it is that you will be saved with tax money even though you are to blame.

As for Binance, they are actually really huge. Look at the gap between their trading volume and rank two. It is hard to think of a scenario that that gap will be closed anytime soon as their business model is sound and customers are satisfied. This is not a business where customers quickly change the provider. Liquidity is awesome, service is awesome, product offering is awesome. Binance is in a great spot to say the least and probably for a very long time.

My dear friend, you couldn't have said it any better. There will be a lot of damages done to the society if care is not taken for Binance to fail it means a portion of government has failed. The government generallly knows that the existence of an enterprise like Binance is doing to relief them of their own stresses like (Job, creation, sabotaging; crime rates through the establishment of trading to keep jobless people from engaging in such acts,  making tax collections a lot more easier).


So, when such scenario plays out, the government will definitely find a way to help the entire Binance management to overcome anything likely going to cut their existence off in the shot period of time, Binance is currently like Google of the Search engines to the crypto world. They constantly update their platform with what will likely draw customers away from them easily.