Chainalysis raises USD 100 mln in funding

Monday 29 March 2021 09:18 CET | News

Chainalysis, a blockchain tracking firm whose client base includes government investigators, crypto exchanges, and even financial institutions, has raised USD 100 million.

The Series D raise values the US-based firm at USD two billion and was led by Paradigm with participation by Addition Capital, Ribbit and Time Ventures. It comes after November’s USD 100 million Series C at a USD two billion valuation. In six years Chainalysis has raised USD 266 million in total.

Chainalysis is among the cryptocurrency investigation firms building software to untangle messy blockchain transaction histories. Crypto transfer records are publicly available but difficult for laypersons to decipher without context, such as flagged wallet addresses and blacklisted coins.

That has turned into a multimillion-dollar business opportunity for Chainalysis. Government agencies use its products to bust Bitcoin-linked crime rings while exchanges turn to it for help vetting and sometimes freezing stolen crypto.

The company is also pursuing international deals, especially in Asia, where it plans to resurrect a pre-pandemic expansion playbook by investing in its Japan and Singapore outposts.

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Keywords: Chainalysis, funding, cryptocurrency, blockchain, Bitcoin, cybersecurity, cryptocurrency exchange
Categories: DeFi & Crypto & Web3
Countries: World
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DeFi & Crypto & Web3

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