 | I decided to google crypto today and see what was the most reason news. The top results were all about how Chinese Fentanyl producers are raking in tens of millions in crypto. you can try this yourself and compare the results I decided to go with the top result which was Fox Business
$37.8 Million sounds like a lot - link I was curious as to how much of the Fentanyl market crypto actually represented so I did a little digging. so 14,700 pounds of fentanyl were seized in 2022, how much is that worth? one kilo of Fentanyl is worth $50k USD - so we simply convert kilos into freedom units and we get 6,667 kilos which is worth $333,350,000 USD. Ten times more Fentanyl was seized in 2022 than all the crypto sent to manufacturers in since 2018. I couldn't find an estimate of how much fentanyl actually makes it into the US but even if we go with 50% is confiscated and the other 50% makes it in we can still see that the amount of crypto being reported is a very small percentage of the total. What is the largest form of payment for Fentanyl? dirty fiat is the most common used currency to purchase illegal drugs and pay the manufacturers of those drugs. So anyways just thought it was funny how all the news agencies are making it such a big deal when it reality it represents an extremely small part of the total being sent to these drug manufacturers. Fun fact - one single drug bust in Australia was worth one billion dollars makes those $37 million in crypto over five years look like chump change. [link] [comments] |
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments