Cryptocurrency startup Chainalysis raises $170M at $8.6B valuation

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Chainalysis, a startup that provides crypto investigation and enforcement services, has received $170 million in a Series F funding round led by GIC, Singapore’s sovereign wealth fund. The company, which is known for helping law enforcement uncover illegal cryptocurrency activity, has doubled its valuation to $8.6 billion from a round last June.

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The funding news was first reported Information and comes at a time when investors are struggling to come to terms with the collapse of the crypto market. The total market capitalization of cryptocurrencies fell to a ten-month low, and on Monday, bitcoin traded below the $30,000 mark.

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Until this new round, the firm grossed $366 million from investors including Benchmark, Accel, Paradigm and Coatue. In 2020, he opened offices in Singapore and Tokyo to “double” of its presence in the Asia-Pacific region and currently serves clients including government agencies, exchanges, financial institutions and cybersecurity companies in more than 70 countries.

Most recently Chainalysis credited like helping journalist Laura Shin track down a suspect in the 2016 DAO hack that resulted in the loss of $11 billion of Ether.

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Some investors fear that a cryptocurrency crash could cool the funding frenzy in this space, but as of the first quarter, things still looked rosy. Cointelegraph Research showed more than $14.6 billion was invested in crypto infrastructure, non-fungible tokens (NFTs), decentralized finance (DeFi), and other web3 startups in the first quarter, accounting for almost half of last year’s total funding.

Indeed, we have seen several large rounds of funding recently. Singapore-based cryptocurrency trading and asset management startup Amber Group is reportedly raising a new round soon. $10 billion valuation; eleven months ago he had just achieved unicorn status in 100 million funding round. KuCoin cryptocurrency exchange valuation rises to $10 billion $150 million announced this week.


Credit: techcrunch.com /

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