Many in the crypto community believe that if Binance collapsed, it would set the entire industry back by decades.
The bank run on Binance comes a month after, the Binance CEO triggered a bank run on FTX, which led to the its liquidity issues, and eventual collapse.
Bitcoin millionaire Carl Runefelt opined on his Twitter account that; “If Binance collapses we’re all fucked.”Author and Bitcoin enthusiast, Layah Heilpern, shared: “You realise if Binance goes down everything else will crumble? Yes #bitcoin will survive but the entire crypto ecosystem including stablecoins will die.
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