ChainCatcher news, according to CoinDesk, JPMorgan Chase (JPM) said in a research report that Binance’s settlement with the US government is positive for the cryptocurrency industry and the exchange. For the broader market, the settlement "would significantly reduce the potential systemic risks arising from a hypothetical collapse of Binance," the report said. Analysts led by Nikolaos Panigirtzoglou wrote: “It also reinforces the US authorities’ goal of a ‘sustained shift towards regulated crypto entities and instruments’ following the collapse of FTX.

Analysts added that once the impact of the settlement on Binance’s operations and business model becomes clearer, its market share losses should be contained and perhaps even partially reversed.