While the agreement made by Binance with the US government in the cryptocurrency market continues to remain hot, it is wondered what the impact of this agreement will be on Bitcoin and altcoins.
While there were many comments at this point, one evaluation came from JP Morgan.
According to The Block, JPMorgan analysts evaluating the Binance-USA agreement said that they saw this agreement as positive for Binance and the crypto industry.
Analysts stated that this agreement eliminates the systemic risk arising from a potential Binance collapse.
JP Morgan analysts led by Nikolaos Panigirtzoglou said:
“We view the possibility of reconciliation as positive as uncertainty around Binance decreases and trading increases.
“For cryptocurrency investors, the compromise reached will eliminate the potential systemic risk from a hypothetical Binance collapse.”
As it is known, Binance and its CEO CZ admitted to the charges of preventing money laundering and violating US sanctions within the scope of the agreement they made with the US government.
Binance signed one of the largest corporate agreements in US history and agreed to pay $4.3 billion within the scope of this agreement. As part of the agreement, CZ will resign as CEO of Binance and pay a fine of $50 million.
*This is not investment advice.