Chainalysis, an analytics company that provides government agencies with services and tools for tracking blockchain transactions, has raised a $170 million investment.
The Chainalysis investment round has taken over as the head of Singapore’s GIC wealth fund, The Information reported. Thanks to the funding, the company is valued at $8.6 billion, making it one of the most expensive cryptocurrency projects.
GIC Private Limited is a fund that, according to Bloomberg, owns more than $100 billion in assets in 40 countries around the world. According to other estimates, the size of the fund’s assets is about $390. GIC rarely invests in cryptocurrency projects.
In March last year, Chainalysis raised $100 million and achieved a $2 billion valuation. Three months later, the company managed to raise the same amount and a $4.2 billion valuation. To date, Chainalysis has raised about $536 million in total. In 2021, the company first invested in bitcoin, and Chainalysis representatives said they would not stop there.
The company recently launched two new tools to simplify the verification of cryptocurrency wallets for compliance with sanctions restrictions – a network oracle and an API. The company said that in the new realities, developers of decentralized applications (DApps), DAOs and decentralized finance (DeFi) platforms need simple and understandable tools to quickly monitor and comply with sanctions policy.
The company’s analysts said that Russians are switching to cryptocurrencies not because of sanctions, but because it is a new and convenient way to invest, which allows you to quickly move funds around the world.
