JPMorgan Chase said that cryptocurrency exchange Binance’s choice to settle with U.S. prosecutors is a good thing for its business and the crypto industry. “We view the prospect of a settlement as positive as uncertainty over Binance itself will subside, and the smart chain business will benefit,” said JPMorgan analyst Nikolaos Panigirtzoglou. For cryptocurrency investors, the prospect of a settlement would remove potential systemic risks from a hypothetical Binance collapse. "
Binance and its co-founder CZ pleaded guilty to violating anti-money laundering and U.S. sanctions under a comprehensive settlement reached with U.S. agencies on Tuesday. Binance agreed to pay $4.3 billion in one of the largest corporate settlements in U.S. history. (The block)