JPMorgan: The settlement between Binance and US authorities is positive for cryptocurrencies and exchanges

ChainCatcher news, according to CoinDesk, JPMorgan Chase (JPM) stated in a research report that the settlement between Binance and the U.S. government is positive for both the cryptocurrency industry and the exchange. The report noted that for the broader market, the settlement "will significantly reduce the potential systemic risk arising from the hypothetical collapse of Binance." Analysts led by Nikolaos Panigirtzoglou wrote, "This also reinforces the goal of U.S. authorities to 'continue the shift towards regulated crypto entities and instruments' following the collapse of FTX."

The analysts added that once the impact of the settlement on Binance's operations and business model becomes clearer, the loss of its market share should be contained and may even be partially reversed.