If Binance were to collapse, crypto prices will tank probably more than what happened last November-December.

However, as always, provided that there is nothing fundamentally wrong with most of the major blockchains and their respective coins/key tokens, then crypto would eventually recover.

Of course, many people will lose faith in the system, perhaps for good, if they were to lose their crypto.

The average person simply does not understand that Bitcoin/altcoins are different to Binance, Coinbase, FTX, etc. etc.

They are COMPLETELY different things, yet most of the mainstream media will happily muddy the waters for the general people and lump them altogether.

Smart crypto investors are not fooled by this, They see through the BS and manipulation, and accumulate accordingly when prices are down, particularly when an asset has long-term potential, robust use cases, good dev activity, strong community, etc.

Bear markets are essentially the prep phrase, whereas bull markets are when cryptos deliver and us investors reap the significant rewards.