According to a CryptoPotato report, Dogecoin founder Billy Markus or Shibetoshi Nakamoto, also commented on the topic by stating that the fall of Binance or Tether could see a "big mega mondo market collapse," Shibetoshi Nakamoto assumed. Furthermore, Markus also stated that the potential for the collapse of Binance and Tether could shake the stability of the crypto industry as a whole.
He also advised people to do the right research and understand the digital asset sector specifically before entering it.
"For anyone worrying about binance and/or tether collapsing, if one of them does, the game will end," Markus said in a Twitter post, November 16, 2022.
"It's better if more of you guys end up finding out what all this is and how centralized things are big weaknesses, but also, it's like this when you guys buy it too," added Shibetoshi Nakamoto (@BillyM2k) in a Twitter post.
Even so, the post appears to have been deleted by Billy Markus. The reason is that when traced to the post on his Twitter account, VOI.id no longer found it.
Despite all that, what Markus said was an assumption regarding the potential for great players in crypto collapse and its impact on the crypto industry itself.
Bad OCCURrences do not mean Dead Crypto
Furthermore, the creator of Dogecoin believes that the potential for bad events will not mean "dead crypto" but triggers a "big mega mondo market collapse."
Nearly any past disruptions, including recent failures with FTX, have prompted a severe market decline and panic among crypto investors. Uncertainty also led critics to say bitcoin had "dead".
Despite its "sikarat" more than 460 times, major cryptocurrencies still exist and continue to expand its presence around the world. Bitcoin has become legal tender in countries experiencing economic difficulties such as El Salvador and the Central African Republic, while many investors view these assets as hedging inflation due to its limited supply.
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