"Bitcoin Whale CoinJoin Transactions Surge…Impact of Money Laundering and Institutional Influx"
YM Lee
- Bitcoin whales' CoinJoin transactions have increased more than threefold annually.
- A significant portion of these transactions is attributed to inflows from Exchange-Traded Funds (ETFs) and custodial accumulation addresses.
- The exact identity of the Bitcoin whales is unknown, but they have accumulated 240,000 to 420,000 BTC through institutions and ETFs.
STAT AI Notice
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Bitcoin (BTC) whales are increasingly engaging in CoinJoin (a mixing transaction that combines transactions to obscure their origins) transactions.
On the 26th (local time), Ki Young Ju, CEO of the on-chain analysis platform CryptoQuant, stated on his X (Twitter) that "the annual average number of CoinJoin transactions has increased more than threefold over the past two years. Some argue that this is due to hackers laundering stolen funds, but a significant portion of these transactions this year has been driven by inflows from Exchange-Traded Funds (ETFs) and custodial accumulation addresses."
He added, "Bitcoin whales often use these transactions to transfer funds to new institutional investors. Even when combining the disclosed holdings of institutions and ETFs, the identity of the whales accumulating approximately 240,000 to 420,000 BTC remains unknown."
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEEPiCK News
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