Browsing tag
Two narratives are recently unfolding in the crypto sphere. On one front, a recent report by Chainalysis unveils a promising decline in crypto laundering activities, marking a significant step forward in ensuring the integrity of digital transactions. Simultaneously, another story is gaining momentum—the meteoric rise of one of the best ICOs, Galaxy Fox, and the […]
Chainalysis said $22.2 billion was laundered via crypto in 2023, down from $31.5 billion the year before. The drop was steeper than the decrease in transaction volumes, suggesting that factors beyond just the general market downturn may have contributed to the reduction in illicit activity. The figures suggest that only about 1% of all money […]
It nonetheless highlights the permissionless nature of Ethereum. Anyone can conjure up an ERC-20 token with little effort, create a trading pool on Uniswap or some other DEX, trade it between themselves to create the impression of activity, and then, when a bot takes the bait and buys, pull the liquidity and profit. Source link
Another caveat to the research is the prevalence of transactions with sanctioned entities, which accounted for a combined $14.9 billion (61.5%) of volume in 2023. Some of this $14.9 billion includes transactions from normal crypto users who happen to live in sanctioned jurisdictions. After all, not all of the Russia-based crypto exchange Garantex, which was […]