The plea agreement is good for both CZ and bn and will help the US approve a spot Bitcoin ETF

Regarding the impact of this regulation, the report analyzed that more exchanges will strengthen their compliance programs and become part of the monitoring sharing agreement, which will help approve spot Bitcoin ETFs in the United States. With this plea agreement, expectations for spot Bitcoin ETFs may have been raised to 100% as the entire industry will be forced to adhere to the same rules that traditional financial companies must follow. What’s more, a washout of the industry will strengthen the case for Bitcoin adoption among institutional investors and could make Bitcoin a safe-haven asset in investor portfolios.

The report states that next month, the FTX exchange may be sold and operated by a management team that complies with U.S. securities laws, which may lead to the exchange being relaunched in the third quarter of 2024. Any U.S.-listed Bitcoin ETF could see $24 billion to $50 billion in inflows, and we’re already seeing crypto companies trading in the crypto derivatives market listed on the Chicago Mercantile Exchange (CME). There will be a shift from unregulated “Wild West” exchanges serving retail investors to fully regulated and compliant venues serving institutions.

Agencies are coming, and all enforcement actions by U.S. agencies this year are a step in that direction. As the macro environment continues to provide favorable conditions and institutional demand, 2024 is likely to be another strong year for Bitcoin – and CZ may return during the next bear market in 2026.#FTT#Binance中文 #BNB🔥