Recently, The New York Times and ICIJ made a big news story, stating that Crypto Assets are involved in 28 billion USD of illegal transactions. But Galaxy Research directly hit back: this data is seriously distorted and has not been compared to the scale it should have.

They did some calculations - 28 billion sounds quite scary, but when looking at the total inflow of major coins like BTC, ETH, USDC, and USDT in exchanges for 2024, it only accounts for 0.52%. It's important to note that the total inflow scale is 5.3 trillion USD, so this proportion can basically be ignored.

Galaxy also mentioned: The scale of money laundering issues in the traditional financial system is much larger than this, so why isn't the media discussing that? This matter is clearly examining the crypto space with a magnifying glass, while turning a blind eye to traditional finance.

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Anon4461

· 11-27 12:44

0.52% can get carried away, what about TradFi haha

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NFTFreezer

· 11-26 03:46

0.52% still needs to be pointed out, really impressive media --- Money Laundering in TradFi is hundreds of billions every year, yet nobody says a word, just fixating on this little issue with encryption --- Here it comes again, a number to scare people, without even looking at the proportion --- This is ridiculous, picking out 0.52% from 53 trillion in traffic to make headlines, interesting right? --- So, encryption is always the one that gets demonized --- Galaxy has hit the nail on the head this time, the media's double standards are truly absurd --- Another media that's all about flattery, while TradFi is just calm and peaceful

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Liquidated_Larry

· 11-24 15:15

0.52% As soon as this number came out, the media had nothing to say, typical cherry-picking. On the TradFi side, there are trillions in Money Laundering, why isn't anyone writing explosive articles? They're playing double standards again. Galaxy's move has completely broken the defense. This is the real FUD crusher.

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SmartContractDiver

· 11-24 15:11

Are you shifting the blame again? 0.52% dares to tell a story, that's what you call unwatchable in TradFi.

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BtcDailyResearcher

· 11-24 14:59

0.52% is scary enough to take out, TradFi is really the black hole, okay?

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GasWaster69

· 11-24 14:48

0.52%? The media just uses this to scare people, it's really funny. The money laundering limits on the bank side are at least ten times larger than this, why is no one pursuing it? The New York Times is acting up again, selective blindness, huh? Galaxy is right, this is double standards. 280 billion is used to scare people, in the context of 53 trillion it's really nothing. Traditional finance numbers every year, compared to encryption it's just a younger brother. Are they splashing dirt on the crypto world again? This trap is getting old.

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