Macro research demo

The screening console answers questions about one wallet. These two reports aggregate the same label set by jurisdiction to answer questions about a market. Volumes are synthesised from the seeded entity pool: the index arithmetic is faithful to the published method, the rankings are not market data.

Global Adoption Index

Each sub-index is rank-normalised to 0-1 across the country set, and the country score is the geometric mean of its four percentiles. The geometric mean means a near-zero sub-index drags the whole score down, so broad adoption outranks a single large flow.

#	Country	Score	Service	Retail	P2P	Non-custodial	Total value (USD)	GDP/cap PPP
1	United States US	0.273	0.83	0.67	0.01	1.00	18,896,079,426	76,000
2	Malta MT	0.096	1.00	0.83	0.01	0.01	22,304,209,166	55,000
3	British Virgin Islands VG	0.076	0.67	0.50	0.01	0.01	2,780,392,090	40,000
4	Seychelles SC	0.064	0.50	0.33	0.01	0.01	833,013,433	32,000
5	Cayman Islands KY	0.049	0.33	0.17	0.01	0.01	1,063,793,436	73,000
6	North Korea KP	0.032	0.01	1.00	0.01	0.01	1,337,599,749	1,700
7	Switzerland CH	0.020	0.17	0.01	0.01	0.01	605,555,948	83,000

Sub-index definitions

centralised service value	Value received by centralised services, divided by GDP per capita at PPP.
retail value	Value received in transfers under $10,000, divided by GDP per capita at PPP.
p2p exchange volume	Peer-to-peer and broker volume, divided by GDP per capita at PPP and by internet-using population.
non custodial value	DeFi and non-custodial value received, weighted by the country's share of crypto web traffic.

Volumes are synthesised deterministically from the seeded entity pool. The index arithmetic is faithful to the published method; the rankings are illustrative and are not market data.

Crypto Crime Report

All value received47,820,643,249USD

Illicit value1,337,599,749USD

Illicit share2.797%of all value

Crime types21 jurisdictions

Retail flow39.81%under $10,000

Institutional flow22.53%over $1,000,000

By crime type

Type	Value (USD)	Share of illicit
Hacking and theft	1,279,597,964	95.66%
Sanctioned entities	58,001,785	4.34%

By jurisdiction

Country	Illicit (USD)	Illicit share
North Korea KP	1,337,599,749	100.0%

Illicit value is the value received by entities whose category is an illicit one in the label set. Illicit share is that value over all value received, which understates crime in jurisdictions where legitimate volume is large.

Retail and institutional bands overlap the middle of the distribution by design; they are not a partition of total value.

Volumes are synthesised from the seeded entity pool, so figures are illustrative rather than measured. Only the Tornado Cash and Lazarus clusters reflect real designations.