In November this year, bitcoin reached new highs and other top cryptocurrencies also experienced gains. The spike in cryptocurrency investments is attributed to the expectation of the U.S. Securities and Exchange Commission (SEC) potentially approving the first spot cryptocurrency exchange-traded fund (ETF) on a major U.S. exchange. At the same time, global regulators including the SEC are actively cracking down on digital assets, targeting crypto exchanges and high-profile executives such as Sam Bankman-Fried of FTX and Changpeng Zhao of Binance. However, with the historic settlement imposed by the U.S. Department of Justice on Binance, the cryptocurrency industry can potentially bring an end to a series of scandals and issues, according to Brian Armstrong, the CEO of Coinbase Global, Inc. (NASDAQ: COIN ). Armstrong commented during an interview with CNBC's Joumanna Bercetche: