What happens if binance and tether goes down

[o48o]

Just the FTX bankruptcy, many people has lost faith in crypto and vowed not to return again.
Binance is the largest exchange and Tether is the largest stable coin and the second highest coin after Bitcoin.
If it happens it will be a total disaster.

Exactly, ftx debacle was not easy on investors and the entire market, almost all investor was in a panic frenzy even though some may try hard not to show it. Now replace that scenario to binance and tether at the same time  it is definitely not worth imagining

Well it's worth imagining if you believe it's going to happen. Because imagine the money you would make by having your money ready in other exchanges that would accept high leverage shorting. I have some money in Bybit for just in case. I wouldn't even need highest possible leverage because everything would crash so much it would be hard not to make ton of money by shorting.

But you really need to be pessimist for the whole crypto scene to prepare fully for something like that and i am guessing those people don't have anything in crypto right now.

[Anonylz]

Whatever you do @OP don't trigger it in this upcoming bull run coz am planning to cash out for the first time, perhaps wait for the next one 
Lol, It sounds funny but it is not funny, dude, stop playing around. Binance and usdt going down at the same time! it will cause a gigantic crash in the market that I fear the market will not recover from it. Better to think about positive things, like bnb hitting 2k, btc to 100k in this coming bull market   

[savetheFORUM]

Is it really over for crypto if Binance exchange or Tether go bankrupt like FTX? Can crypto survive without the centralise organizations and projects?

Not really over, but it will take a very deep dive towards the bottom of a very severe bear run and then it will start recovering slowly with other exchanges and stable coins replacing the later. On a contrary, Bitcoin has its roots too deep in the industry, going mainstream in a look of countries and spreading its wings, and CZ also mentioned that they have enough funds to cover them if anything like that happens with them. So, I don't think Binance will face any issues in near future.

[kelonmusk]

I think it's important to remember that while centralized organizations like Binance and Tether have played a huge role in the growth of cryptocurrencies, they are not the only players in this industry.

There are many decentralized projects and exchanges out there that do not rely on this centralized organization.

In fact, one of the main selling points of cryptocurrency is that it is decentralized and not controlled by any single entity. In fact now in March 2023, the crypto market is normal.

[dansus021]

Crypto not gonna over but one time is sure that the price will be hit hard. Crypto especially bitcoin was already there before binance and tether was born. So I don't think that crypto will wipe out. But after price is plunge the altcoin will be hit hard too and probably there is dozen will be dead.

But let us pray it will not happen hahahaha

[kelonmusk]

I don't think it's necessarily the end of crypto if a centralized organization like Binance or Tether goes bankrupt. While these organizations do play a significant role in the crypto ecosystem, there are a lot of other factors that contribute to the success of cryptocurrency.

If you look at the history of crypto, it was initially created as a way to decentralize financial systems and remove the need for central authorities.

So, in theory, crypto should be able to survive without these centralized organizations. That being said, I do think it would have an impact on the overall crypto market if one of these organizations were to go bankrupt . It could potentially cause a drop in prices or even a loss of confidence in the industry. But I don't think it would be the end of crypto altogether.