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Chainalysis: Gray market peptide drug suppliers are increasingly using Bitcoin and stablecoins

MeNews
ME News Report, June 5th (UTC+8), Chainalysis released a report stating that as demand for gray market peptide products (such as Semaglutide and other weight loss drugs) rapidly increases, related suppliers and buyers are increasingly using cryptocurrencies for transactions, with leading suppliers mainly relying on Bitcoin and stablecoins. The report shows that in the first quarter of 2026, crypto funds flowing into this sector reached $32 million, a 159% increase from $12 million in the previous quarter, with an annualized scale exceeding $100 million. Chainalysis pointed out that the demand for peptide products is driven by medical aesthetics, health and wellness trends, and the popularity of GLP-1 drugs, but since these products often involve prescription-grade compounds or unregulated substances, traditional banks and credit card processors typically restrict their transactions, prompting this market to shift toward crypto payments. The organization also stated that some leading suppliers have adopted more professional on-chain fund management methods. Especially among suppliers with an average single deposit exceeding $1,000, the proportion of stablecoins has significantly increased, possibly to reduce the risk of large supply chain orders being affected by crypto market volatility. (Source: ODaily)
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