Dogecoin’s Shibetoshi Nakamoto believes that the potential collapse of exchange Binance or Tether, the issuer of USDT stablecoin, could severely destabilize the entire industry.
He also advises people to do proper research. And understand the specific sectors of digital assets before investing.
the fall of Binance/Tether can cause serious damage
Billy Markus (better known as Shibetoshi Nakamoto) – thinks if Binance or Tether crashes, this could be “game over for Crypto” and also states that more and more people are realizing that hyper-centralization is a “Major weakness”
Twitter’s former CEO, Jack Dorsey, is among those who agree with Nakamoto’s hypothesis.saidSuch a potential meltdown would undoubtedly be “game over”.
Still, the creators of DOGE believe that this event does not mean “crypto is dead” but rather a catalyst. “Massive Market Collapse”
Some crypto communities expect the FTX crisis to have a domino effect and drag other exchanges down the abyss.
refer : LINK
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