Chainalysis Achieves $1 Billion Valuation with Funding Round 0 291

Chainalysis Achieves $1 Billion Valuation with Funding Round

An announcement was recently made by a prominent blockchain forensics firm called Chainalysis. They disclosed that the company had managed to raise another $100 million in funding that would help them in expanding its operational scale. This is the third funding round that has been conducted by Chainalysis since it was launched six years ago. This has helped the company in achieving a total value that exceeds an impressive $1 billion. Addition was leading the investment in the Series C round, which is an investment firm that was founded by Lee Fixel. He is a former investor in Tiger Global Management. 

Some of the other members who also participated in this newest funding round included names like Ribbit, Accell, and Benchmark. The co-founder and chief executive of Chainalysis, Michael Gronager, was pleased with the success of the third funding round and had some very enthusiastic things to say about it. He noted that the new funds that the company has managed to raise will be used for expanding the operations of Chainalysis, which would undoubtedly benefit their investors. Gronager was quick to highlight that the Addition was going to get the most benefits because the company had injected most of the funds in this latest round.

He further shed some light on the number of contracts held by the company, which are spread across both private and government agencies. Their goal is to monitor the blockchain space with the best possible tools available. Gronager mentioned a number of things when he made an official public statement regarding this matter. According to the CEO, there is a greater need for government agencies and the private sector to find the right data, tools, and insights for enacting responsible oversight and participation in the crypto economy. He went on to say that Chainalysis had become part of the agency networks of governments of 30 countries. 

He further stated that their firm was also leveraged by more than 250 of the most essential businesses in the world. According to Gronager, Addition is well-aware of the power of Chainalysis’s platform and described them as the right partner for the next phase of growth of the company. Recently, they have experienced huge amounts of growth and have certainly not failed to deliver in return after what the investors have put into it. According to the numbers estimated by Forbes, Chainalysis was able to rake in $8 million in profits back in 2018 and had experienced a 100% growth rate in 2019. 

Forbes has stated that they expect this 100% growth trend to continue every year till 2022. Chainalysis is well-recognized across the crypto space for its abilities when in tracking blockchain transactions, solving crimes and generating critical insights regarding the state of the crypto space on a day-to-day basis. One of the most recent big moves that Chainalysis made is a combined contract that was valued at $1.25 million. This was made with the IRS, along with data analytics firm FEC. The contract is for creating tools that can be used for tracking transactions within the Bitcoin and Monero network. 

Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *

MELT, GTC, PAL, and more Cryptocurrencies among Highest Gainers in Past 24-hours 0 16

In the list of highest gaining cryptocurrencies, the cryptocurrency on the top is Defrost Finance (MELT). In the past 24-hours, MELT has observed a 192.83% surge in its price, surging it all the way up to $11.97 per MELT. Similar to the price surge in the past 24-hours, MELT’s trading volume in the past 24-hours has increased to $1,177,520. MELT is currently the 3220th largest cryptocurrency in the crypto-verse in terms of its $1,401,512 market valuation.

The next cryptocurrency coming after Defrost Finance is Gitcoin (GTC). In the past 24-hours, GTC has observed a 171.08% surge in its price, surging it all the way up to $25.56 per GTC. Similar to the price surge in the past 24-hours, GTC’s trading volume in the past 24-hours has increased to $1,199,791,917. GTC is currently the 264th largest cryptocurrency in the crypto-verse in terms of its $363,625,405 market valuation.

The next cryptocurrency coming after Gitcoin is PlayAndLike (PAL). In the past 24-hours, PAL has observed a 168.43% surge in its price, surging it all the way up to $0.0000016 per PAL. Similar to the price surge in the past 24-hours, PAL’s trading volume in the past 24-hours has increased to $52,540. PAL is currently the 4780th largest cryptocurrency in the crypto-verse in terms of its $144,015,382,197 market valuation.

The next cryptocurrency coming after PlayAndLike is Elonomics ($ELONOM). In the past 24-hours, $ELONOM has observed a 131.06% surge in its price, surging it all the way up to $0.02629 per $ELONOM. Similar to the price surge in the past 24-hours, $ELONOM’s trading volume in the past 24-hours has increased to $212,424. $ELONOM is currently the 3934th largest cryptocurrency in the crypto-verse in terms of its $26,633 market valuation.

The next cryptocurrency coming after Elonomics is ICE ROCK MINING (ROCK2). In the past 24-hours, ROCK2 has observed an 85.68% surge in its price, surging it all the way up to $0.01744 per ROCK2. Similar to the price surge in the past 24-hours, ROCK2’s trading volume in the past 24-hours has increased to $67,982. ROCK2 is currently the 2229th largest cryptocurrency in the crypto-verse in terms of its $274,300 market valuation.

The next cryptocurrency coming after ICE ROCK MINING is India Coin (INDIA). In the past 24-hours, INDIA has observed a 128.93% surge in its price, surging it all the way up to $0.0000006419 per INDIA. Similar to the price surge in the past 24-hours, INDIA’s trading volume in the past 24-hours has increased to $452,332. INDIA is currently the 3571st largest cryptocurrency in the crypto-verse in terms of its $3,975,380 market valuation.

Even more cryptocurrencies are joining the ranks of top gainers and among these cryptocurrencies are KING, ALLBI, HIKO, and many more.

Crypto.com is Now First-Ever Exchange that is now Adhering to SOC 2 Standards 0 17

As per the latest reports, Crypto.com has made an announcement in regards to acquiring a new certification. Crypto.com, one of the most popular cryptocurrency exchanges has announced that it is now in full compliance with the SOC 2 standards. Crypto.com is based in Singapore and it has a global user base.

The exchange has announced that it has successfully acquired the SOC 2 certification after a successful audit. The exchange has announced that it had Deloitte carry out the audit prior to granting certification.

Deloitte is a global consulting firm that has been around since 2015, is based in the United Kingdom. It is spread all over the world, currently providing its services in over 150 countries.

The SOC is reportedly a traditional finance standard that is known all over the world. With the acquisition of the SOC 2 certification, Crypto.com has become the first-ever cryptocurrency exchange to have acquired this recognition.

The SOC 2 certification is granted to traditional financial institutions that are considered highly trustworthy in the financial sector. Prior to the granting of the certification, the operations, policies, and information practices of the company are audited and attested. If the particular company is able to pass all the audits successfully, it is granted the SOC 2 certification.

After the acquisition of the SOC 2 certification, Crypto.com has now become the securest and most trustworthy trading platform or cryptocurrencies. The exchange has even earned the title of being the only cryptocurrency exchange that is now SOC 2 certified.

With the acquisition of the SOC 2 certification, Crypto.com has set a new standard that every major exchange would want to achieve. This will increase the standards of the regulatory framework within the cryptocurrency industry. Now, the major exchanges will be competing with each other in order to acquire the SOC 2 certification.

It is being expected that with the acquisition of the SOC 2 certification, Crypto.com will be able to attract a tremendous number of users.

With the SOC 2 standard in its grasp, the exchange can confidently claim to be offering the most reliable services to users. The exchange can offer high regulatory compliance, privacy, and security to the users.

The CEO and co-founder of Crypto.com, Kris Marszalek, talked about the recent achievement of their company. He stated that with the acquisition of the SOC 2 certification, they are able to prove to the world how well their exchange has been working.

Their exchange has finally achieved a new goal, which is going to increase the competition within the crypto-verse. With the new certification, they are now able to offer a lot more to the users than any other exchange.

Editor Picks

Ready To Invest in Bitcoin? - Top 4 Bitcoin Trading Brokers‎ Read More
Skip to content