Bitcoin and ether have shown strong reliance over the past week following the U.S. Department of Justice's settlement with crypto exchange Binance on Nov. 21, according to the latest K33 Research report.

The DOJ settled a criminal case with Binance last Tuesday, which had probed into alleged money laundering, fraud and sanctions violations. The crypto exchange will pay a $4.3 billion fine, marking one of the largest corporate settlements in U.S. history.

While comparisons have been made with the collapse of FTX, "Binance has operated illegally in the U.S., which they will no longer be able to do, but the settlement has nothing to do with mishandling customer funds" and "won’t have any contagious effects in the future," Senior Analyst Vetle Lunde and Vice President Anders Helseth said.

…