- Nov 16, 2011
- 19,812
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How will your crypto journey get affected if binance gets shut down?
How will your crypto journey get affected if binance gets shut down?
- Thread starter awesomewebsites
- Start date
DavidG1510
Banned - Multiple Rules Violations
- Jun 28, 2023
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My funds are not at Binance.
But overall if Binance is dead. the Crypto market will go down 50-75% I am pretty sure.
But overall if Binance is dead. the Crypto market will go down 50-75% I am pretty sure.
SEOVsEditor
Registered Member
- Oct 4, 2022
- 80
- 24
This will impact the market and market will crash.
Blackcurrant
Registered Member
- Aug 25, 2023
- 59
- 14
It will be affected badly. And might be very hard for it to recover easily. Although, there are bigger companies that support crypto. Unless Binance Rebrand. Although, Binance cannot shut down
dyndynkiukiu
BANNED
- Mar 22, 2023
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What do you think about running Facebook ads?
denizseckin
Banned - selling outside of the marketplace.
- Sep 25, 2019
- 158
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Binance and being shut down? It's scary to even see these two words in the same sentence. If that happens, the crypto market will collapse.
Although I do not keep all of my money in Binance, I still lose a significant amount.
Although I do not keep all of my money in Binance, I still lose a significant amount.
- Nov 16, 2011
- 19,812
- 11,285
How is it related to OP?
ErealBoss
Registered Member
- Jan 16, 2023
- 53
- 18
Alright, let's step into the "what if" world of crypto for a moment. Imagine, suddenly, the regulators drop the hammer, and Binance gets shut down:
In this scenario, I'd find myself in a tight spot. My funds could be locked up, and I might not be able to make any moves. It would be like having a wad of cash but no wallet to put it in. Panic could set in as I realize I couldn't withdraw or trade, and it would feel like trying to run a marathon with my shoelaces tied together.
As if that weren't enough, the crypto market might start going haywire in this hypothetical situation. Bitcoin and ETH, the big players, could potentially take a nosedive in value. It would be like watching my bank account balance shrink faster than a melting ice cream cone on a hot day. Additionally, there could be the looming threat of regulatory investigations, paperwork, and potential financial losses.
So, in this "what if" world where Binance gets shut down, in a nutshell...I would be F***** #LOL.
The key takeaway is...in crypto, the show never stops, and being prepared is key.
cracklings10
Supreme Member
- Oct 9, 2012
- 1,338
- 507
Alts and btc will go down IMO. The liquidity of binance is huge.
TimeKeeper5
Banned - Selling via PM
- Jul 26, 2023
- 18
- 3
there’s so many choices these days for CEXs that I don’t think it should have a huge impact on anyone. But if it goes down in a bad way like FTX did it’ll have a significant price impact for the whole market. BNB is still top 5 in marketcap (top 3 if you don’t count stablecoins).
- Nov 16, 2011
- 19,812
- 11,285
BNB is listed on other exchanges though.
TimeKeeper5
Banned - Selling via PM
- Jul 26, 2023
- 18
- 3
Doesn’t change the fact that’s it’s ultimately tied to Binance, and if Binance implodes BNB will pretty much drop (close) to 0 almost instantly and with it dragging the entire market.
