What Would Happen to the Crypto Market if Binance Went Bankrupt? 3 AIs Speculate

BNB would probably be the token hit hardest by a crisis like that, the chatbots claimed. Binance recently suffered a major $6.3 billion hack, the largest in the history of the cryptocurrency industry. As expected, the incident sent shockwaves through the sector, and Bitcoin (BTC) and altcoins headed south. However, the losses proved far less severe than many would have expected, with the market even rebounding after Binance showed it could handle the situation by restoring withdrawals and covering the damage through its SAFU fund and its own reserves. But what would happen to the cryptocurrencies if the behemoth filed for bankruptcy and no longer operated? Here’s what three of the most popular AI-powered chatbots said on the matter. Major Catastrophe? ChatGPT said a disorderly Binance collapse could push BTC down 30-50% from its pre-event price, while many altcoins could crash up to 80%. It explained that such a meltdown would trigger two shocks at once: people selling in a panic and fewer firms and individuals able to buy. “Bitcoin would most likely fall because it is easier to sell than smaller assets. A trading firm with money trapped on Binance might sell Bitcoin held elsewhere...