Richard

<table style="width: 100%; border-collapse:">
 <tbody>
  <tr>
   <td style="width: 100%; text-align: left;"><a href="https://en.coinotag.com/altcoin-exchange-1333421/" target="_blank" rel="noopener noreferrer nofollow"><strong><span style="color: #000000;">Before you reading, did you missed the PEPE?<span style="color: #e67e22;"> No worries, click here to 100x potential memes!</span></span></strong></a></td>
  </tr>
 </tbody>
</table>
<ul>
 <li>According to JPMorgan, the agreement reached by crypto exchange Binance with U.S. prosecutors on Tuesday is a positive development for the company and the crypto sector.</li>
 <li>The agreement, which includes the Department of Justice, the Treasury Department, and the Commodity Futures Trading Commission, concludes a years-long investigation into the exchange.</li>
 <li>With the news of the agreement, Binance experienced an exit of over $1 billion in the last 24 hours, while some competitor exchanges saw inflows.</li>
</ul>
<p><strong>JPMorgan analysts share their views on the crisis at the crypto exchange Binance: What does this event mean for the industry?</strong></p>
<h2 id="strong-jpmorgan-analysts-release-binance-report-strong"><strong>JPMorgan Analysts Release Binance Report</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-129665" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/jpmorgan-bitcoin.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="jpmorgan-bitcoin" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/jpmorgan-bitcoin.webp?w=1920&amp;quality=70&amp;ssl=1 1920w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/jpmorgan-bitcoin.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/jpmorgan-bitcoin.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/jpmorgan-bitcoin.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/jpmorgan-bitcoin.webp?resize=1536%2C864&amp;quality=70&amp;ssl=1 1536w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/jpmorgan-bitcoin.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/jpmorgan-bitcoin.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/jpmorgan-bitcoin.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/jpmorgan-bitcoin.webp?w=1392&amp;quality=70&amp;ssl=1 1392w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>According to JPMorgan, the agreement reached by crypto exchange Binance with U.S. prosecutors on Tuesday is a positive development for the company and the crypto sector. The team led by JPMorgan’s chief analyst Nikolaos Panigirtzoglou stated, “We view the probability of an agreement as a positive development because uncertainty around Binance will decrease, and trading and the BNB Smart Chain business will benefit from it,” and added:</p>
<blockquote>
 <p>“For crypto investors, the probability of an agreement will eliminate the potential systemic risk arising from a hypothetical Binance collapse.”</p>
</blockquote>
<p>On Tuesday, Binance and its co-founder Changpeng “CZ” Zhao reached a comprehensive agreement with U.S. authorities, admitting guilt to serious money fines and violations of U.S. sanctions. Binance agreed to pay $4.3 billion, making it one of the largest corporate settlements in U.S. history.</p>
<p>Under the terms of the agreement, Zhao will pay a $50 million fine, conditioned on his resignation as CEO. The agreement, which includes the Department of Justice, the Treasury Department, and the Commodity Futures Trading Commission, concludes a years-long investigation into the exchange.</p>
<p>After admitting guilt, Zhao was released on $175 million personal recognizance with up to 18 months of expected prison sentence, with his sentence scheduled for February 23, 2024.</p>
<h2 id="strong-binance-will-continue-its-journey-strong"><strong>“Binance will continue its journey”</strong></h2>
<p>In a letter sent internally after resigning from the CEO position, Zhao wrote, “Binance will continue its journey,” and continued, “I will have to deal with some pains, but I will stand firm. We will get through this, but with some structural changes. It might not be a bad thing when we look back a few years from now.”</p>
<p>Richard Teng was appointed as CEO in place of Zhao. Teng, who previously served as a regulatory official, stated that his priorities are to ensure that Binance users can trust in the “company’s financial strength, security, and integrity.” He expressed confidence that the company would emerge as a “stronger company” in the process of “laying the foundation for the next 50 years.”</p>
<p>Along with the news of the agreement, Binance experienced an exit of over $1 billion in the last 24 hours, while some competitor exchanges saw inflows, according to DefiLlama data. Binance’s native token, BNB, also dropped nearly 10% in the last 24 hours.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/jpmorgan-analysts-release-report-on-recent-developments-in-binance-exchange/">JPMorgan Analysts Release Report on Recent Developments in Binance Exchange!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
<table style="width: 100%; border-collapse:">
 <tbody>
  <tr>
   <td style="width: 100%; text-align: left;"><a href="https://en.coinotag.com/altcoin-exchange-1333421/" target="_blank" rel="noopener noreferrer nofollow"><strong><span style="color: #000000;">Did you missed the PEPE?<span style="color: #e67e22;"> No worries, click here to 100x potential memes!</span></span></strong></a></td>
  </tr>
 </tbody>
</table>

JPMorgan Analysts Release Report on Recent Developments in Binance Exchange!

Table of Contents

CO NEWS

Alte articole publicate pe 22 nov. 2023

Stellar (XLM) Price Faces Crossroads at $0.11 Support – What Lies Ahead?

Top 4 Altcoins with Potential for 20x Growth in the Next Bull Run

Will ImmutableX (IMX) Price Prediction Hit $5 Soon?

What Are The 100x Top Meme Coins Of 2023 That Deserve Your Attention? Exploring Shiba Inu, Dogeco...

Chainlink Retests $14: Here’s What Will Happen If Support Holds

BEFE Coin: The Unbelievable Journey from $2.72 to $131,0000 – How One Investor Hit the Jackpot

Join our free newsletter for daily crypto updates!