this post was submitted on 18 Mar 2025
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Be kind to your elders (lemmy.world)
submitted 11 months ago by The_Picard_Maneuver@lemmy.world to c/whitepeopletwitter@sh.itjust.works
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[–] sugar_in_your_tea@sh.itjust.works 2 points 11 months ago* (last edited 11 months ago) (1 children)

The estimated amount of money laundered globally in one year is 2 - 5% of global GDP, or $800 billion - $2 trillion in current US dollars.

Source.

If crypto was so great for money laundering and illegal activity, we'd see so much more of it. The number is as high as it is because Bitcoin is super convenient, so people go out of their way to try to make it work.

[–] Knock_Knock_Lemmy_In@lemmy.world 2 points 11 months ago (1 children)

Agreed. The upper estimate is that only 5% of money laundering goes through crypto.

[–] sugar_in_your_tea@sh.itjust.works 3 points 11 months ago (1 children)

If we can somehow kill off the bulk of the pump and dump nonsense and discourage speculation, maybe we can get somewhere with crypto.

[–] Knock_Knock_Lemmy_In@lemmy.world 2 points 11 months ago (2 children)

First wave was ICOs

Second wave was NFTs

Third wave was (is) memecoins

Are the waves are getting smaller?

[–] sugar_in_your_tea@sh.itjust.works 1 points 11 months ago

Hopefully. It seems like the whole dapps/web 3 thing fizzled, so it's probably not going to be that next.

[–] putainsdetoiles@lemmy.world 1 points 11 months ago

Next wave is real-world asset tokenization. I think we'll see more and more shifts to useful applications as the tech matures.