I will answer "can" instead of "could" since it's not surprising anymore to see centralized exchange collapse, including the popular and biggest one. Back in the days, Mt.Gox was a biggest and popular exchange at 2013-2014, but they got hacked and then the customers lost all of their money. Although there's many article said Mt.Gox is trying to recover their customers money, but until now there's no realization at all.
If you hold centralized coin that can be easily get manipulated and can't trade in decentralized exchange, better to sell it e.g. ETH, BNB, etc. But if you hold Bitcoin, you don't need to worry since your coins will be safe 100% as long as you hold it on hardware wallet, if all CEX collapse, you can still use DEX e.g. Bisq.
Topic: Could Binance Collapse? - page 2. (Read 263 times)
In regard to this article: https://coingeek.com/binance-to-us-authorities-prosecute-us-and-crypto-will-collapse/
Could binance collapse if they get prosecuted? With the collapse of FTX these things became more much imaginable, then again this could all be just FUD as we've seen it many many times before.
Once again the crypto market is on the brink of another apocalypse. If it wasnt for this possibility I would never want to sell my coins at this point as I pretty much think the bottom could be in. I saw so many bad news over the course of years and this could easily just be 99% FUD again but if it isnt my crypto money will probably be 99% worthless in case of this event happening so I do give it some thought. What do you think will happen? Do you think about selling your coins? Also what would happen with stable coins, would they still hold any value if this happened?
Also how would such a scenario unfold IF it happened? When would we know? How long would the whole process take? Would there be enough time in between to make a decission or do you think it would unfold rapidly, trigger a chain reaction and steep losses?
Could binance collapse if they get prosecuted? With the collapse of FTX these things became more much imaginable, then again this could all be just FUD as we've seen it many many times before.
Once again the crypto market is on the brink of another apocalypse. If it wasnt for this possibility I would never want to sell my coins at this point as I pretty much think the bottom could be in. I saw so many bad news over the course of years and this could easily just be 99% FUD again but if it isnt my crypto money will probably be 99% worthless in case of this event happening so I do give it some thought. What do you think will happen? Do you think about selling your coins? Also what would happen with stable coins, would they still hold any value if this happened?
Also how would such a scenario unfold IF it happened? When would we know? How long would the whole process take? Would there be enough time in between to make a decission or do you think it would unfold rapidly, trigger a chain reaction and steep losses?
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