Market surveillance and risk monitoring firm Solidus Labs announced the closure of a $45 million Series B funding round led by Liberty City Ventures.
In 2018, struck by the Securities and Exchange Commission’s series of refusals to approve a bitcoin ETF, a group of Goldman Sachs engineers and cybersecurity specialists set out to find a way to address the SEC’s concerns over the lack of investor protection in the nascent industry. Two years later, they launched market surveillance and risk monitoring firm Solidus Labs.
“If you believe as an investor that crypto, DeFi, Web 3 are going to continue to grow, you need to build healthy pipelines for this industry. This is exactly what Solidus is doing,” says Asaf Meir, Solidus’ founder and CEO. With new funds, Solidus hopes to accelerate the deployment of its intelligence tools and expand its research and development to address a fast-growing array of DeFi-specific use-cases. This may come especially handy as the cryptocurrency market is facing theof a prominent stablecoin TerraUST and its sister token LUNA, which lost 98% of its value yesterday.
While Solidus may come off as a latecomer to blockchain forensics, especially next to nearly decade-old outlets like Chainalysis and Elliptic, the company has secured formidable support from both former and current regulators. Among its other notable advisors are former SEC Commissioner Troy Paredes and new investor Brian Brooks, acting comptroller of the currency under President Trump who is now leading bitcoin miner Bitfury Group.
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