$170 million, auditing, chainalysis, security, series f funding round

Chainalysis, a cryptocurrency security and blockchain auditing firm, has announced it has completed a new funding round for its operations. The company raised $170 million in its Series F funding round, which was led by GIC — the Government of Singapore Investment Corporation — and also had the participation of earlier investors. With this capital influx, the company reached a valuation of $8.6 billion.

Chainalysis Gets Investment From GIC

Chainalysis, a cryptocurrency and blockchain auditing firm, has announced it raised $170 million in its latest funding round, with investments led by GIC, the Government of Singapore Investment Corporation. The Series F funding round also had the participation of earlier and new investors, including Accel, Blackstone, Dragoneer, Fundersclub, the Bank of New York Mellon, and Emergence Capital.

With this new investment, the company reaches a valuation of $8.7 billion, in a context where crypto regulation is starting to be adopted by more countries and government bodies around the world. This funding round dwarves the latest raise of the company, which raised $100 million last June, giving it a valuation of $4 billion at that time.

The investment comes to complement other blockchain-based investments from GIC, which was also involved in the earlier Series E round and has put funds behind Anchorage and the BC Group. On the subject, Chainalysis co-founder and CEO Michael Gronager stated:

Our partners at GIC understand the power of Chainalysis’ data platform and customer network, the strength of our team of leaders, and the market opportunity before us.

Furthermore, Gronager also stated the company would be expanding its business to the APAC zone.

Expansion and Growth

Chainalysis has also provided an overview of the objectives it wants to fulfill with the funds raised. The company stated that this investment will contribute to “product innovation and scale its global operations to meet customer demand as the asset class gains mainstream acceptance.”

Chainalysis’ growth has been significant, according to the numbers given by the company. Its customer count has increased by 75% year-on-year. Furthermore, the company has included new business by adding NFT-related operations in partnering with Dapper Labs. It has also been involved in solving landmark crypto-related crimes, including the Colonial Pipeline attack, where it helped to seize $2.3 million, and the establishment of sanctions on several Russian-based services involved in money laundering processes.

What do you think about the latest Series F funding round and the $8.6 billion dollar valuation reached by Chainalysis?

TECH NEWS RELATED

Infoblox study finds Singapore companies are the slowest in reacting to security breaches

An Infoblox study of 100 local companies found that despite being among the highest to be targeted by cyberattacks, Singapore businesses have the slowest times when it comes to responding to security breaches. This was despite Singapore companies seeing higher rates of security incidents and breaches compared to other ...

View more: Infoblox study finds Singapore companies are the slowest in reacting to security breaches

FTX Founder Sam Bankman-Fried Thinks Bitcoin Has No Future as a Payments Network

Sam Bankman-Fried, the founder of the cryptocurrency exchange FTX, has given his take regarding the future of Bitcoin’s usage. Bankman-Fried stated he doesn’t believe that Bitcoin will work as a payments network, due to its limited capability for scaling to fulfill this task. However, he believes it might become ...

View more: FTX Founder Sam Bankman-Fried Thinks Bitcoin Has No Future as a Payments Network

Axie Infinity, NFT and Other Projects Fall Victims of a Phishing Attack

Source: Axie Infinity / Twitter Messaging platform Discord servers of multiple large NFT collections and crypto projects, including play-to-earn game Axie Infinity, have been compromised, with attackers publishing phishing links that appear to be NFT mints.  Some other affected projects include popular NFT collections Moonbirds and PROOF, virtual sneakers ...

View more: Axie Infinity, NFT and Other Projects Fall Victims of a Phishing Attack

Chinese Authorities Prosecute Alleged Masterminds Behind MDC Pyramid Scheme

Chinese authorities in Rong County recently said they have prosecuted eight individuals accused of being the masterminds behind the Magic Data Chain (MDC) pyramid scheme. The pyramid is thought to have handled transactions with a total value of over $147 million. Virtual Currency Pyramid Scheme Authorities in China’s Rong ...

View more: Chinese Authorities Prosecute Alleged Masterminds Behind MDC Pyramid Scheme

Algoracle Announces $1․5 Million Seed Round

press release PRESS RELEASE. Algoracle has recently announced the close of its seed round for $1.5 million (USD) to help accelerate the development and launch of Algorand’s native decentralized oracle network. Algoracle’s seed round was led by Borderless Capital, with major contributions from the Algorand Foundation, Valhalla Capital, and ...

View more: Algoracle Announces $1․5 Million Seed Round

Internet Service Company Cloudflare to Run Ethereum Validator Nodes as Part of Its Web3 Focus

Cloudflare, an internet services and DDoS protection company, has announced a new strategy regarding its Web3 experiments. The company revealed it will run Ethereum validator nodes as part of its commitment to help to scale the internet by using proof-of-stake (PoS) consensus technologies. This will ostensibly allow the company ...

View more: Internet Service Company Cloudflare to Run Ethereum Validator Nodes as Part of Its Web3 Focus

DOJ Files First Criminal Complaint Against US Citizen Allegedly Using Cryptocurrency to Evade Sanctions

The Department of Justice (DOJ) has filed its first criminal complaint against an American who allegedly used cryptocurrency to circumvent U.S. sanctions. “The payments platform advertised its services as designed to evade U.S. sanctions, including through purportedly untraceable virtual currency transactions.” DOJ Charges US Citizen in Crypto Sanctions Evasion ...

View more: DOJ Files First Criminal Complaint Against US Citizen Allegedly Using Cryptocurrency to Evade Sanctions

Elon Musk: US Economy Is Probably in Recession That Could Last 18 Months — Warns It 'Will Get Worse'

Tesla and Spacex CEO Elon Musk says that the U.S. economy is probably in a recession and it could be “tough going” for 12 to 18 months. He added: “The honest reason for inflation is that the government printed a zillion more money than it had.” Elon Musk on ...

View more: Elon Musk: US Economy Is Probably in Recession That Could Last 18 Months — Warns It 'Will Get Worse'

Google Cloud to launch repository service with security-tested versions of open source software packages

South Korea Launches 'Emergency' Investigation Into Collapse of LUNA and UST

Bitdefender can now protect your identity along with your computer

Study: Amid Mining Bans, China Still Commands World's Second-Largest Share of Bitcoin Hashrate

NVIDIA fixes ten vulnerabilities in Windows GPU display drivers

Real-Time Bidding of Confidential Information is Really Happening

How to back up your Mac: The ultimate guide

Terra Community Plans to Vote on Forking the Chain — Launch May Airdrop a Billion New Tokens to Network Participants

Chromebook data sanitization comes to Blancco Drive Eraser

The First Rewards Card for the Web3 World by The Crypto Card Club

L1 Ethereum Network Fees Drop to Levels Not Seen in Over 2 Months, L2 Fees Follow

Q&A with Jan Ketil Skanke on Going Passwordless

OTHER TECH NEWS

Top Car News Car News