JPMorgan cheers Binance's $4.3B settlement, reducing systemic risk

by Liza Tanasova

2 years ago

JPMorgan hails Binance's colossal $4.3 billion settlement with U.S. regulators as a transformative moment, emphasizing its positive impact on both the exchange and the wider cryptocurrency landscape. The analysts predict that the settlement will dispel uncertainties surrounding Binance, paving the way for the growth of its trading and BNB Smart Chain businesses.

Despite the significant fines and recent outflows, JPMorgan anticipates Binance's resurgence, envisioning a strengthened position in the cryptocurrency sector post-settlement, as it navigates the aftermath of the investigation and endeavors to rebuild trust globally.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Costco Tightens Returns Policy Amid Digital Transformation

Costco is tightening its returns policy and enhancing its mobile app features to protect margins.

Maria Gutierrez24 minutes ago

LightBar Develops Technology to Combat AI Copyright Infringement

LightBar develops technology to combat AI copyright infringement.

David Robinson3 hours ago

Hollywood Studios Take Legal Action Against AI Infringement

Major Hollywood studios, including The Walt Disney Company and Paramount Pictures, have taken legal action against ByteDance for alleged unauthorized use of copyrighted characters and performers' likenesses in its Seedance 20 model.

Andrew Smith3 hours ago

Bitcoin Price Drops Below Critical Support Levels.

Bitcoin's price has failed to maintain stability above the 70,000 mark and has started a decline, trading below 68,800.

Jacob Williams3 hours ago

Figure Technology Confirms Data Breach Due to Social Engineering Attack

Figure Technology has confirmed a data breach caused by social engineering, resulting in the theft of customer files and exposure of sensitive personal information.