Chainalysis raises $100 million investment

Blockchain analytics provider Chainalysis has raised funding in Round D in in the amount of 100 million rubles. The company is now worth $2 billion.

Well-known investors supported Chainalysis

Chainalysis, a blockchain analysis company, has announced that it has received $100 million in Round D funding. As a result, the market value of the provider of analytical services exceeded $2 billion. In this round, Paradigm was the leader. Previous investors Addition and Ribbon have increased their investments in the company, and TIME Ventures, an investment fund Marc Benioff, also participated.

Chainalysis tools are used for investigation and regulatory compliance, crime prevention, and money laundering. The proceeds will be used to expand the Chainalysis business and create enterprise data processing solutions. The main consumers of Chainalysis services will be:

  • Cryptocurrency companies and financial service providers who want to understand their customers ‘ behavior and optimize their development strategies.
  • Asset managers and financial institutions who want to better understand the trends of the cryptocurrency market amid the influx of institutional money.
  • Government agencies to identify cases and prevent abuse of cryptocurrency.

“We believe that eventually all companies will transfer their business to the blockchain. We have collected more information about what is happening with blockchains than anyone in the cryptocurrency industry. This information allows our clients to make more informed and informed decisions. Our partners at Paradigm share our vision and understand that the data provided by Chainalysis will accelerate the adoption of cryptocurrency, ” he said. Michael Gronager, Co-founder and CEO of Chainalysis.

The company also plans to hire more than 100 new employees to expand its presence in the market.

Chainalysis will help the authorities to make money on cryptocurrencies

Chainalysis is launching a new service that will help government agencies and bankruptcy managers deal with seized or confiscated cryptocurrency assets.

The new crypto asset implementation program will help stakeholders track, store, and liquidate seized cryptocurrencies. Commenting on the news, Jason Bonds, director of revenue at Chainalysis, said:

“The popularity of cryptocurrencies is growing, so they are more often used by both respectable people and scammers. The state authorities have recently been very successful in combating crimes, and we are helping them to seize and sell confiscated assets.”

In addition, Chainalysis experts develop programs for tracking ransomware viruses. They concluded that the same individuals control four strains of the largest ransomware viruses. Analysts wrote about this in the latest report. Four types of viruses (Maze, Egregor, SunCrypt, and Doppelpaymer) were quite active in 2020. They attacked the systems of Barnes & amp; Noble, LG, Pemex, University Hospital New Jersey, and so on.

The company admits that there is no 100% certainty that the same person or group of people is behind the viruses. However, all viruses have similar methods of cashing out money, which can help in solving crimes.

Read about how the new spy virus disguises itself as a poker app in the BeInCrypto special article.

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