• Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
Newsletter
Crypto Hoarding
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
Crypto Hoarding
No Result
View All Result
Home Blockchain

Chainalysis Raises $100M, Underscoring Surging Demand for Blockchain Surveillance – CoinDesk – CoinDesk

Admin by Admin
March 26, 2021
in Blockchain
0
Chainalysis Raises $100M, Underscoring Surging Demand for Blockchain Surveillance – CoinDesk – CoinDesk
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Solving the No. 1 Issue of Our Time: Using Blockchain Technology to Scale Climate Action – Entrepreneur

Solving the No. 1 Issue of Our Time: Using Blockchain Technology to Scale Climate Action – Entrepreneur

May 21, 2022
Blockchain, crypto set to take sports industry beyond NFT collectibles – Cointelegraph

Blockchain, crypto set to take sports industry beyond NFT collectibles – Cointelegraph

May 21, 2022

Chainalysis, a blockchain tracking firm whose client base includes government investigators, crypto exchanges and even financial institutions, raised $100 million in a round that underscores surging demand for cryptocurrency compliance infrastructure.

The Series D raise values the New York firm at $2 billion and was led by Paradigm with participation by Addition Capital, Ribbit and Marc Benioff’s Time Ventures. It comes after November’s $100 million Series C at a $1 billion valuation. In six years Chainalysis has raised $266 million in total.   

Chainalysis is among the largest U.S. 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. U.S. agencies are a particular cash cow: the FBI, Internal Revenue Service (IRS), Department of Homeland Security (DHS) and other federal offices spent over $10 million on Chainalysis in 2020, according to records reviewed by CoinDesk.

But the company is also pursuing international deals, especially in Asia, where CEO Michael Gronager plans to resurrect a pre-pandemic expansion playbook by investing in its Tokyo and Singapore outposts. Those offices, which opened amid COVID uncertainty, have so far been stymied by hiring woes, Gronager said.

A growing global rolodex spans government agencies in 30 countries and companies in 60, Chainalsysis said. It said its annual recurring revenue has more than doubled year over year, fueled in large part by a blistering six months of growth that coincided with bitcoin’s price boom.

Gronager said private-sector tie-ups continue to be a major source of new partnerships for Chainalysis while its government business, though “super solid,” remains stable. Financial institutions are also beginning to show interest, he hinted.

Onboarding new clients is an expensive proposition, Gronager said, and so the money will go toward building out that function.

“We are an enterprise sales company,” he said. “Every time we need to book another $1 or $2 million [in contracts] we need to hire another sales rep.”

Share76Tweet47

Related Posts

Solving the No. 1 Issue of Our Time: Using Blockchain Technology to Scale Climate Action – Entrepreneur

Solving the No. 1 Issue of Our Time: Using Blockchain Technology to Scale Climate Action – Entrepreneur

by Admin
May 21, 2022
0

Opinions expressed by Entrepreneur contributors are their own. The 1997 Kyoto Protocol implemented the objective of the United Nations Framework...

Blockchain, crypto set to take sports industry beyond NFT collectibles – Cointelegraph

Blockchain, crypto set to take sports industry beyond NFT collectibles – Cointelegraph

by Admin
May 21, 2022
0

Bitcoin (BTC) has been attributed as the most prominent blockchain use case, showing the technology’s prowess in successfully delivering an...

Polygon to Partner with MSP on Healthcare Blockchain Initiative – HIT Consultant

Polygon to Partner with MSP on Healthcare Blockchain Initiative – HIT Consultant

by Admin
May 21, 2022
0

What You Should Know:– Today, Polygon Networks, a leading blockchain and scaling solution, announced a partnership with Tokenology and MSP...

What Is Blockchain? – The Defiant – DeFi News

What Is Blockchain? – The Defiant – DeFi News

by Admin
May 20, 2022
0

Over the last decade, blockchain has become integrated into the daily vernacular. For a good reason — thanks to Bitcoin,...

The Future of Blockchain Technology: Building It Decentralized, Secure and Efficient – CoinDesk

The Future of Blockchain Technology: Building It Decentralized, Secure and Efficient – CoinDesk

by Admin
May 20, 2022
0

The answer to the first question is still up for debate. There are many different solutions being proposed, but no...

Load More
  • Trending
  • Comments
  • Latest

SteveWillDoIt reveals hacker stole his crypto wallet: “I lost a lot of money” – Dexerto

July 26, 2021
Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

April 21, 2021
Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

February 11, 2022
DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

April 15, 2021
Chainalysis introduces its Web3 based blockchain analysis tool: Blog – The Financial Express

Chainalysis introduces its Web3 based blockchain analysis tool: Blog – The Financial Express

0

Rivals Ripple and R3 partner up | PaymentsSource – American Banker

0
Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

0

Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches – Coindesk

0
Chainalysis introduces its Web3 based blockchain analysis tool: Blog – The Financial Express

Chainalysis introduces its Web3 based blockchain analysis tool: Blog – The Financial Express

May 21, 2022
Can Litecoin’s [LTC] long-awaited MWEB update shine a light to end this darkness – AMBCrypto News

Can Litecoin’s [LTC] long-awaited MWEB update shine a light to end this darkness – AMBCrypto News

May 21, 2022

After Luna Collapse, Terra Looks to New Blockchain. This Week’s Top Bitcoin and Crypto News – CNET

May 21, 2022
Solving the No. 1 Issue of Our Time: Using Blockchain Technology to Scale Climate Action – Entrepreneur

Solving the No. 1 Issue of Our Time: Using Blockchain Technology to Scale Climate Action – Entrepreneur

May 21, 2022
Crypto Hoarding

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Bitcoin
  • Blockchain
  • Cryptocurrency Hackers
  • Ethereum
  • Litecoin
  • Ripple

Newsletter

[mc4wp_form]

  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

Copyright (c) 2021 - Crypto Hoarding - All Rights Reserved - web design by TechyRack