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JP Morgan: Binance’s settlement with US authorities is good for cryptocurrencies and exchanges

According to CoinDesk, JPMorgan (JPM) stated in a research report that the settlement between Binance and the US government is positive for the cryptocurrency industry and the exchange. The report states that for the wider market, the settlement "will greatly reduce potential systemic risks arising from the assumed collapse of Binance". Analysts led by Nikolaos Panigirtzoglou wrote, "It also strengthens the US authorities' goal of continuing to shift towards regulated crypto entities and tools after the collapse of FTX."The analysts added that once the impact of the settlement on Binance's operations and business model becomes clearer, its market share losses should be controlled and may even be partially reversed.

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