Chainalysis now valued at $4.2 billion as industry depends on reliable blockchain data

Rick Steves

As these tools are only as good as the underlying data, Chainalysis systematically collects information that links real-world entities to blockchain transactions since 2013.

DTCC’s ALERT hits six million instructions

Chainalysis has secured a $100 million Series E financing led by Coatue, bringing its valuation to $4.2 billion.

The capital raise will allow the firm to deepen its data advantage by covering more cryptocurrencies and focusing on emerging use cases like DeFi, and launching a Global Intelligence function to more quickly identify warning signs for potential threats and reduce time to response.

Chainalysis also plans to develop collaboration tools in its suite of software solutions so that public and private sector teams can work together from the same data set with a consistent, shared understanding.

Chainalysis is one of the must trusted firms within the cryptocurrency space, bringing investigations and compliance software that enables government agencies and private sector businesses across the world to detect and prevent cryptocurrency crime and money laundering.

As these tools are only as good as the underlying data, Chainalysis systematically collects information that links real-world entities to blockchain transactions since 2013.

The company has focused on the collection and analysis of blockchain data and has been used by companies like Hex Trust and Banco Topazio for due diligence on customers.

With financial institutions experiencing unprecedented demand for crypto assets, government agencies prioritizing threats like ransomware, cryptocurrency exchanges seeking a competitive edge, Chainalysis is there to provide reliable blockchain data that provides insight to the risks and opportunities.

Kris Fredrickson, Managing Partner at Coatue, said: “Chainalysis’s data platform is core infrastructure which helps to create a safe and thriving cryptocurrency market. As cryptocurrency adoption grows, we believe that financial institutions, government agencies, and cryptocurrency businesses will increasingly deploy Chainalysis’s platform to make important decisions – from figuring out the best way to dismantle the operations of a threat actor to deciding which new cryptocurrency products are likely to drive the most demand.

Michael Gronager, Co-founder and CEO, Chainalysis, commented: “The future of finance and national security will be based on blockchain data-driven decisions. We’ve harnessed the transparency of blockchains to provide actionable insights into markets, threats, and business opportunities. Our partners at Coatue understand the power of our vision for the Chainalysis data platform and the software, access, and services it powers.”

Chainalysis latest financing round was its $100 million Series D in March 2021, which brought the total amount raised to $365 million.

The firm has appointed ex-Atlassian Chief Product Officer Pratima Arora, ex-SiSense General Counsel Sarah Ward, and ex-FBI Special Agent Rob Bone as Director of Cyber Intelligence Rob Bone.

The firm has most recently partnered with Acuant to enhance the latter’s AML solutions for cryptocurrency exchanges and blockchain business worldwide. In May, Chainalysis launched a business data product for crypto venues.

Read this next

Metaverse Gaming NFT

DCentral Miami brings together all of Web3, NFT, DeFi, Metaverse

The world’s biggest Web3 meeting entitled DCENTRAL Miami is set to take place November 28-29, featuring a lineup of some of the biggest and most influential names in the blockchain space.

Digital Assets

Crypto ban expands across UK banks as Starling joins ‎crackdown

UK digital bank Starling has banned ‎all customer payments related to cryptocurrencies, another blow for the crypto traders ‎who recently saw a sizable number of banks deciding not to ‎finance the wobbly asset class.‎

Interviews

Markets Direct at FIA EXPO 2022: Traders know what they want from brokers

The FIA Expo 2022, one of the most prestigious events within the global derivatives trading industry, took place in Chicago on 14 & 15 November.

Interviews

FIA Expo 2022: TNS addresses public cloud limitations with hybrid infrastructure

November is the month of the FIA Expo, one of the largest futures and options conferences in the world, bringing together regulators, exchanges, software vendors, and brokers in one place: the Sheraton Grand Chicago Riverwalk. 

Retail FX

Italy’s regulator blacks out Finance CapitalFX, MFCapitalFX

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

Suspected leader of Honk Kong ramp-and-dump scam appears in court

A leader of a sophisticated ramp-and-dump scheme made his first court appearance in a Hong Kong court today, charged with market manipulation and various criminal offences. The case stems from an earlier joint operation of Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), and the local police. 

Institutional FX

Cboe’s James Arrante discusses growing demand for fixed income, FX algo

We caught up with James Arrante, senior director of FX & US treasuries product and business management at Cboe Global Markets, to uncover emerging trends in the FX and fixed income markets and learn more about the bourse operator’s recent initiatives.

Retail FX

Eurotrader acquires UK broker Petra Asset Management

Eurotrader Group has formally entered into the UK market with the acquisition of FCA-regulated broker, previously named Petra Asset Management Ltd. The new entity operates under the brand name Eurotrade Capital Ltd.

Inside View, Retail FX

The Game of Chess Continues – OPEC, China and the Oil Market

Over the past decade, the US has been complaining about the amount of power which the BRIC group, and specifically China, has on the global economy. BRIC stands for Brazil, Russia, India and China; these were the world’s fastest growing economies. Only in the past 10 months, the US has turned their attention toward OPEC due to the prices of fuel. Nevertheless, China seems to have a strong influence even over the price of crude oil.

<