According to a report from The Block, JPMorgan believes that the settlement reached between the cryptocurrency exchange Binance and the US prosecutors on Tuesday is a good thing for its business and the entire crypto industry.
JPMorgan analyst Nikolaos Panigirtzoglou told The Block that, according to data from DefiLlama, following the news of the settlement, Binance saw a net outflow of funds worth over $800 million within 24 hours yesterday, while some competing exchanges experienced net inflows. As of the deadline, the net outflow in the past 24 hours was approximately $460 million, indicating a easing of market panic.
Source:
DefiLlama
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