Ako se Binance ili Tether sruše, igra je gotova za Crypto, kaže osnivač DOGE-a

Dogecoin’s Shibetoshi Nakamoto believes a potential crash of the crypto exchange Binance or the stablecoin-issuer Tether could severely destabilize the entire industry.

He also advised people to do appropriate research and understand the digital asset’s sector specifics before entering it.

Binance/Tether Collapse Could be Devastating

The Co-Creator of the memecoin Dogecoin – Billy Markus (better known as Shibetoshi Nakamoto) – thinks if either Binance or Tether goes down, this could be “pretty much game over.”

Američki softverski inženjer je također istakao da je sve veći broj ljudi shvatio da je prevelika centralizacija "velika slabost".

svakome ko brine o kolapsu binance i/ili tethera, ako se to dogodi, gotovo je gotovo

dobro je da više od vas konačno shvaća šta je sve ovo i kako su centralizovane stvari velika stara slabost, ali isto tako, tako je bilo kada ste i vi kupili

- Shibetoshi Nakamoto (@ BillyM2k) Novembar 16, 2022

The former CEO of Twitter – Jack Dorsey – was among the individuals to agree with Nakamoto’s assumption. He rekao such a potential meltdown will undoubtedly be “game over for the games.”

Still, DOGE’s creator believes the potential adverse event will not mean “crypto dies” but trigger a “big mega mondo market crash.”

Almost every disruption in the past, including the recent fiasco with FTX, has prompted severe market declines and panic among crypto participants. The uncertainty has also caused critics to proclaim bitcoin “dead.”

Uprkos “umiranje” over 460 times, the primary cryptocurrency is still around and keeps expanding its presence across the globe. It has become a legal tender in distressed economies like Salvador and the Central African Republic, while numerous investors view the asset as a hedge against inflation because of its limited supply.

How Is Binance Doing?

Some market participants expected the FTX crisis to cause a domino effect and drag other exchanges into the mud.

The largest cryptocurrency platform – Binance – assured its balance sheet is stable and even dopunio its Secure Asset Fund for Users (SAFU) to $1 billion to protect customers in case of emergency.

In addition, the company uveden an industry recovery fund that could help struggling projects during turbulent times.

“To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund to help projects who are otherwise strong, but in a liquidity crisis. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify,” CEO Zhao stated.