Bank of America's Active Crypto Users Drop More Than 50% in Bear Market

Bank of America has revealed that the number of its customers who are active crypto users has dropped by more than 50% from its peak in November last year. In addition, the bank said its data shows that outflows on crypto platforms have declined sharply, indicating that customers are returning to their net investments in crypto platforms.

Anonymous Bank of America internal customer data shows that the number of active crypto users with more than 50% dropped from a peak of more than 1 million users in November 2021 to less than 500,000 in May.