Binance's CZ Shatters Crypto Crime Narrative with Staggering Statistics

Binance founder Changpeng Zhao, also known as CZ, recently challenged the narrative that cryptocurrency is a haven for illegal activity at the ASEAN Tech Summit on July 31, 2026.

CZ argued that the crypto illegal activity rate is dramatically lower than what critics assume, and far below the level seen in traditional finance. According to him, illegal activity accounts for around 0.0014% of all crypto transactions, a fraction significantly smaller compared to traditional finance's estimated 2-5%.

The Binance founder credited blockchain transparency and traceability as the main reasons behind the low rate of illegal activity in cryptocurrency. He emphasized that every transaction sits on a public, permanent ledger that investigators can easily track, making it easier to spot suspicious fund flows.