Skip to main content

Blockchain Surveillance Firm Chainalysis Raises $100 Million, Company’s Valuation Now $4.2 Billion

Blockchain Surveillance Firm Chainalysis Raises $100 Million, Company's Valuation Now $4.2 Billion

The blockchain intelligence and surveillance firm Chainalysis announced the company has raised $100 million in Series E funding from investors such as Coatue, Benchmark, Accel, Addition, Dragoneer, Sequoia Heritage, and SVB Capital. The financing brings the company’s valuation to $4.2 billion and it aims to expand its resources and deepen data to cover more cryptocurrencies and focus on use cases like decentralized finance (defi).

Chainalysis Raises $100 Million, Blockchain Intelligence Firm’s Valuation Now Over $4 Billion

The blockchain Satoshi designed is a transparent ledger and transactions can be traced all the way back to the genesis block. This doesn’t necessarily mean, however, that a person can pinpoint with accuracy the identity of the individual or organization behind a cryptocurrency transaction.

Nevertheless, this data does help an investigator get closer to that answer. In Bitcoin’s early days, blockchain surveillance was mostly nonexistent, but a few years after the network effect gathered momentum it became much more prevalent.

There are now over two dozen blockchain intelligence and surveillance firms and over the years these companies have upped the stakes by monitoring dozens of blockchains besides Bitcoin. They have also raised millions of dollars from investors and government contracts.

On June 24, the firm Chainalysis revealed it had raised $100 million from investors and it aims to expand operations a great deal. Chainalysis launched in 2013 and the company provides blockchain data to governments, institutions, and exchanges in over 60 countries. The company’s $100 million raise bumps Chainalysis up to a $4.2 billion valuation. The Series E funding round was led by Coatue.

Blockchain Surveillance Firm Chainalysis Raises $100 Million,
Chainalysis Data Platform

The Series E follows the $100 million Series D round the company raised in March 2021, and the funds will be used to expand services across the board. Three expansion concentrations are mentioned in the announcement which include deepening data. This would entail monitoring more cryptocurrencies and a focus on defi. Software is next on the list as Chainalysis aims to create software solutions for both the public and private sector.

Lastly, Chainalysis said it would provide more access via the use of APIs so “government agencies, financial institutions, and cryptocurrency exchanges” can leverage the firm’s data. The company has competition from the likes of well-known blockchain intelligence firms like Ciphertrace and Elliptic.

Other firms involved in the analytics and blockchain monitoring field include organizations like Sixgill, Tibco, Credits, Crystal Blockchain, Dune analytics, Madana, Bitrank, Ocyan, Alethio, Bison Trails, Blockpit, Blockmonitor, Bloxy, Postchain, and Scoreshain. Chainalysis’s Series D and E rounds bring the total amount raised by the firm to $365 million.

Blockchain analysis has been big business all across the globe and governments and law enforcement agencies have paid big money for these services. Between Chainalysis and Ciphertrace alone, it was estimated that in 2019 more than 80% of the cryptocurrencies in existence were tracked by blockchain surveillance.

What do you think about the blockchain surveillance firm Chainalysis raising $100 million? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/3gW52Mx

Comments

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...