Crypto’s Privacy Problem: Why Your Boss Doesn’t Want the World Knowing Their Salary

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Markets

What to know:

  • Crypto bigwigs like Binance’s CZ are finally admitting what we’ve all been thinking: blockchain’s “radical transparency” is about as appealing as a blind date with a mime.
  • Wall Street suits from JPMorgan to Abraxas Capital are like, “Yeah, no thanks,” to the idea of their deals being public spectacle. Auditable? Sure. Visible to every nosy parker on the planet? Hard pass.
  • JPMorgan’s $50 million Solana shindig with Galaxy Digital was cool and all, but let’s be real: until crypto stops acting like a reality TV show, big money’s not moving in.

So, Binance’s Changpeng “CZ” Zhao (yes, the guy who’s basically crypto’s answer to a tech-bro superhero) has finally spilled the tea: crypto’s lack of privacy is the reason your grandma still thinks Bitcoin is a scam. And he’s not alone-the CoinDesk Consensus Hong Kong crew basically had a group therapy session about it.

Blockchain’s “total transparency” was supposed to be the middle finger to shady bankers, but turns out, no one wants their financial life to be a 24/7 livestream. Imagine your boss paying you in crypto and the entire office knowing your salary. Spoiler: HR would be swamped.

CZ put it perfectly on X (because where else would he?): “Privacy may [be] the missing link for crypto payments adoption. Imagine your company pays you in crypto, and suddenly Karen from accounting knows you make more than her. Drama central.”

Wall Street’s Not Having It Either

Abraxas Capital’s Fabio Frontini (yes, the name screams “finance bro”) dropped some truth bombs in Hong Kong. “Total transparency is like wearing a speedo to a job interview-uncomfortable and unnecessary,” he quipped. “Institutions want audits, not public shaming.”

And let’s not forget JPMorgan’s $50 million Solana experiment. Sure, it was groundbreaking, but it also highlighted that crypto’s idea of privacy is about as effective as a sieve. Emma Lovett from JPMorgan summed it up: “Institutions don’t want their transactions to be the next viral TikTok.”

B2C2’s Thomas Restout chimed in, “Institutions aren’t playing with Monopoly money here. They need certainty, not a blockchain version of ‘Where’s Waldo?’ for their transactions.”

So, there you have it. Crypto’s killer feature might just be its biggest flaw. Until it figures out how to keep your business out of everyone else’s, don’t expect your local coffee shop to start accepting Bitcoin anytime soon. Unless, of course, you’re cool with the barista knowing your entire financial history.

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2026-02-16 12:46