Reason Behind Investors Risking Millions On Bitcoin Surveillance
Keeping track of the multitude cryptocurrencies as they become recognized globally does not come easy. 27-year-old British business investor Jonathan Levin, fellow co-founder and chief operating officer of Chainalysis, one of the largest firms that track cryptocurrencies can definitely attest to this fact.
During its establishment in 2014, Chainalysis would go all out to effectively track exchanges and track the money of criminal types on the blockchain, mostly benefiting the U.S. government investigators cracking down criminals. Recently, Levin has to deal with wealthy financial institutions who want to figure out who they are dealing with on a daily basis.
This has led to the emergence a new industry with the aim of promoting trust in Bitcoin and other cryptocurrencies by monitoring the various blockchains of the world.
This dedication was highlighted on Thursday as Chainalysis revealed that it came up with $16 million in a Series A round led by Benchmark, the same San Francisco venture capital that big bet and won on the likes of eBay and Uber.
In any case, it’s Chainalysis that was showcased on Forbes’ FinTech 50 list earlier this year, which is taking the lead. That is to a great extent a result of its developing client base that conveys some influence, including a critical number of U.S. government clients, including the FBI, the DEA, and Immigration and Customs Enforcement.
Levin asserted the organization has seen a triple income increment in the course of the most recent year alone, halfway on account of a jump in private industry customers.
He considers Barclays one of his greatest clients, however, declined to name others in the private circle other than to note Chainalysis worked with a large number of the best trades in Asia, Europe and North and South America. He wouldn’t uncover income information either.
