Private Bitcoin transactions via CoinJoin have surged 3X since 2022, driven by Bitcoin whales linked to ETFs, MicroStrategy, and custodial wallets, according to CryptoQuant CEO Ki Young Ju. In a Dec. 26 post, he dismissed claims that CoinJoin primarily facilitates money laundering, noting hacking losses accounted for just 0.5% of Bitcoin’s $377 billion inflows in 2024.
Ju highlighted unidentified whales holding 420,000 BTC ($40B), sparking speculation about nation-states discreetly building reserves. Russia’s recent approval of Bitcoin for foreign trade has added to the intrigue.
CoinJoin remains controversial, with global law enforcement monitoring its misuse, including arrests linked to Samourai Wallet and Tornado Cash.
Source: Cointelegraph
