What will happen if Binance shuts down?

I'm quite concerned about the possibility of Binance shutting down. As a frequent user of the platform, I've come to rely on its services for my cryptocurrency transactions. But what would happen if it suddenly ceased operations? Would I lose access to my funds? Would there be a way to recover them? Would other exchanges take on Binance's users and assets? Would the crypto market experience a significant downturn? These are just some of the questions that are running through my mind. I'd appreciate it if you could provide some insight into this potential scenario.