Study finds $188 billion in risky funds linked to crypto exchanges

• —10 exchanges accounted for 90.9% of flagged inflows, with $167.66 billion in combined exposure
• —Sanctions drove 62.2% of risky inflows and 53.8% of risky outflows in 2025
• —USDT on Tron represented 68% of flagged inflows and 80.4% of outflows in 2025
• —5,878 deposits above $1 million carried $33.77 billion, or 37.24% of risky deposit value