Hi,
I have another #AksLeo post this week. #AskLeo was brought to us by @acesontop, give him a follow please.
It is a pressing question, that will probably will affect crypto massively, if it happens. The question is, what happens if Binance collapses?
This is a tough question, where I can't have an answer. As they introduced KYC, I've removed my funds from there, but, there is a but, I still have funds on the binance chain, which works anonymously.
Not so many, as I like to keep tokens in the wallet.
If Binance goes bust, there will be a big earthquake on the crypto market, that is for sure, with an ice coming in. States will try to regulate crypto to the max, and it might change in harsher conditions.
The crypto ice age will be for a few years, and a lot of people will lose interest at the start.
No worries, crypto will evolve, and even reward the ones who stay strong in harsh times, but it will be not an instant gratification, as it has happened in the past years. This wave of 20x in a few weeks, is history, we will need to get used to 10%, maybe.
Definitely I will remain in crypto, possibly less time investing, but stake stays here.
So, what happens if Binance collapses? How do you see it?