One of the most terrifying scenarios in the market is the scenario of the collapse of the Binance platform.
Binance, as a company, has indeed contributed significantly to the growth of the market:
It has provided strong services, attracted new users, and created a seamless experience for them until they became professionals.
But… is the probability of Binance collapsing zero?
The answer: No. Even if it’s 1%, the possibility still exists.
🔹 Security breaches: They are a constant target for hackers. Thousands of attempts daily, as it is an enticing prey. But it seems that their cybersecurity team is very strong.
🔹 Internal corruption: Like any large institution, the risk exists. However, the company seems fortified with an organized administrative structure.
🔹 Political targeting: We saw the recent campaign against CZ. Nevertheless, the company was prepared, appointing a new manager quickly as if it were a coronation ceremony.
🔹 Multiple crises together: This will be the true ultimate test for the company.
And we as professionals do not forget, large platforms like Mt.Gox and FTX have already collapsed.
The answer to my friend:
Even if Binance stops one day, the market will not end.
Yes, the platform contributed to building a huge community…
But the market started with Bitcoin, and Bitcoin was designed to be fully decentralized.
We may enter a long winter… but for now, financial institutions are completely free.
In my opinion, Binance deserves the first position…
But we hope to witness strong ethical competition from other platforms, and the final result?
The interest of the market and the entire community.
