Cryptocurrency crimefighter Chainalysis is the 1st blockchain company to make the Next Billion-Dollar Startups list by DelRayMan
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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