JPM - Over 99% Of Cryptocurrency On-Chain Is Legal Bitcoin Use In Criminal Activity Falls Again | Benzinga
The majority of cryptocurrency transaction volume, roughly 99.6%, is used for legal purposes.
That's according to a new crypto crime report by blockchain analytics firm Chainalysis, which found that the total value of cryptocurrency sent to illicit addresses dropped to $24.2 billion in 2023 — down from $39.6 billion in 2022.
And the 2022 figure was inflated by $8.7 billion in FTX creditor claims, after the Sam Bankman-Fried-led startup collapsed.
In 2023, illicit cryptocurrency transactions accounted for just 0.34% of all cryptocurrency volume in 2023, down from 0.42% in 2022 and a significant decrease from 1.3% in 2019.
The findings are at odds with public statements made by prominent business leaders like JPMorgan Chase & Co. (NASDAQ: JPM) CEO ...