Chainalysis Secures $30M: Despite Bitcoin Crash, Crypto Venture Money Still Flow

[Baofeng]

Chainalysis Secures $30M: Despite Bitcoin Crash, Crypto Venture Money Still Flowing

https://www.newsbtc.com/2019/02/16/chainalysis-secures-30m-bitcoin-crash-crypto-venture-money-flowing/

But interestingly, it seems that the crash in the Bitcoin price hasn’t deterred opportunities. Even in trying times, money from ambitious venture capitalists and visionaries alike have continued to rush into this space, no holds barred.

In fact, in a press release issued Tuesday, Chainalysis divulged that it had scored over $30 million in funding for its Series B round, led by Accel, a Palo Alto-based venture group that also has investments in Circle.

With this influx of funding, the analytics unit has decided to bolster its team. The company currently has 30 open roles, including stints ranging from the vice president of finance to the team lead for cybercrimes. Although the company has its primary offices in New York, many of the new positions are located in London and Copenhagen, the former of which is where Chainalysis is looking to double its headcount.

So it looks like another round of funds made it to Chainalysis. I'm sure that there's no effect in the price, but the impact will be huge behind the scene when exchanges or even private individual can use their services to help find and curb crypto related crimes.

Any thoughts about other net positive effects of Chainalysis having deep pockets now?

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[figmentofmyass]

So it looks like another round of funds made it to Chainalysis. I'm sure that there's no effect in the price, but the impact will be huge behind the scene when exchanges or even private individual can use their services to help find and curb crypto related crimes.

Any thoughts about other net positive effects of Chainalysis having deep pockets now?

net positive effects? it's hard to think of many. they're here to spy on the network, de-anonymize users and their transaction histories.

sure, they can help address crime---terrorist and money laundering activity etc. the more effectively exchanges and other custodial services can address criminal activity, the less likely they are to be targets of the DOJ and FBI. that's the only positive I can think of.

i prefer the old wild west days tbh.

[Jating]

I also don't see any positive effect except that they will be given more "blockchain intelligence power" to try and investigate issues like money laundering and the usual criminal acts, by partnering with exchanges. I'm not sure if they have partnered with top exchanges of today, but at one point, trading platform will need their help in the future in cases of hacks.

So I have mix emotions if they will be given so much power to track and de- anonymize users. And I totally agree with @figmentofmyass here, I prefer the old days.