Last week’s settlement by Binance and its now-former CEO Changpeng Zhao (CZ) and the SEC is representative of a larger shift taking place in the crypto ecosystem that is seeing the stature of regulated entities rise in prominence, according to JPMorgan analyst Nikolaos Panigirtzoglou.
“The Binance settlement is reinforcing an ongoing shift towards regulated crypto entities and instruments which has been the objective of US authorities post FTX collapse,” Panigirtzoglou said in a note published on Linkedin. “Such a shift towards regulated crypto entities and instruments should be positive for the crypto ecosystem as more regulation will help attract the interest of traditional market participants and investors.”
