Cryptocurrency Crimefighter Chainalysis Becomes First Blockchain Company To Make Next Billion-Dollar Startups List

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Cryptocurrency Crimefighter Chainalysis Becomes First Blockchain Company To Make Next Billion-Dollar Startups List
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His sleuthing uncovered $1.2 billion in bitcoin (or $6.5 billion in current prices) investigators thought was lost for good.

Not so, Levin told the stunned panel. He had found the money — and Chainalysis had found its calling, as a tool to crack crypto crime.

Levin then found patterns Chainalysis can identify are good for more than just tracking down crime after the fact. The startup launched a new tool designed to help money processors and traditional banks automatically comply with regulatory requirements as they increasingly open accounts for cryptocurrency companies, such as proving the source of a client’s funds.

That’s led a flurry of startups competing with Chainalysis. For example, London-based Elliptic raised $12 million, and California-based CipherTrace raised $18 million to provide insights into illicit activity on a number of blockchains. Meanwhile, blockchain technology firm Bitfury, a member of the inauguralBlockchain 50 list that’s already valued at more than $1 billion, quietly registered its Crystal security platform as a wholly-owned stand-alone entity based in the Netherlands.

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