JPMorgan Chase: Binance’s settlement with the US government removes uncertainty and will help Binance regain market share

JPMorgan Chase said in a research note on Thursday that Binance’s settlement with the U.S. government would be a positive for itself and the crypto industry. For the broader market, trading on the exchange "would significantly reduce the potential systemic risk from a (hypothetical) Binance collapse," the report said. Analysts led by Nikolaos Panigirtzoglou wrote that it also reinforces “the ongoing shift toward regulated crypto entities and instruments, which is the target of U.S. authorities following the FTX collapse.” The report states that this shift towards compliant crypto companies and products is positive, as more regulation will help attract investors from the traditional financial sector. JPMorgan said the settlement also reduces uncertainty surrounding the cryptocurrency exchange, which will benefit its trading and BNB Chain businesses. “Going forward, Binance’s market share losses should be contained and may be partially reversed once the settlement’s impact on Binance’s operations and business model becomes more apparent,” the analysts wrote. (CoinDesk)