RATE Group | Danske Bank’s $235B Money Laundering Tops Entire Cryptocurrency Market Cap
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Danske Bank’s $235B Money Laundering Tops Entire Cryptocurrency Market Cap

01 Oct Danske Bank’s $235B Money Laundering Tops Entire Cryptocurrency Market Cap

Posted at 18:22h in Cryptocurrency News by

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Danske Bank, the Danish lender at the center of a giant Russian money laundering scandal, illegitimately processed more cash than the entire cryptocurrency market cap combined.

One Bank, $235 Billion

The astonishing figure, noted on social media by Morgan Creek Digital founder and partner Anthony Pompliano this weekend, comes as the true extent of the banking sector’s latest revelation remains unknown.

Danske laundered a reported $235 billion through just one of its branches in Estonia over an eight-year period, according to claims.

This week, the bank appointed an interim CEO in the form of its current Danish operations head Jesper Nielsen after abruptly firing extant boss Thomas Borgen.

Commenting on Twitter, Pompliano appeared to suggest the episode should give renewed faith to cryptocurrency investors subdued by criticism of the industry or sustained low prices.

“REMINDER: A single bank location at one bank laundered more money than the entire market cap of…

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