In the world of distrustful cryptocurrency investments and scams, Chainalysis has emerged as a champion for investors. Chainalysis, a cryptocurrency crimefighter, company has entered the league of Forbes’ Next Billion-Dollar Startup list. The revenues generated by Chainalysis have reached an estimated value of $8 million in 2018.
Chainalysis is a New York-based company that was founded in 2014. Jonathan Levin initially co-founded the company to study how people work with cryptocurrency. Cryptocurrency allows people to move funds without involving banks. The company focused on criminal behavior in this field, which mostly includes black-market drug deals and cryptocurrency theft.
The company had its breakthrough two years ago. The start-up company testified against Mt Gox. At that time, Mt Gox was the top cryptocurrency exchange. Chainalysis located 650,000 bitcoin which were stolen from Mt Gox. That was when Chainalysis found its forte as crypto detectives.
At the age of 24, John Levin cofounded Chainalysis. In 2019, he has made his place on the Forbes’ 30 Under 30- Finance edition list. He has been an active participant in online scams relating to bitcoins. He and his company have gained a lot of popularity in the crypto world.
Forbes says that Chainalysis can be the next billion-dollar startup. Forbes’ list of Next Billion-Dollar Startups includes tech giants like Patreon and Duolingo, which have established themselves well on the internet.
The company’s new tool helps banks and money transfer services in processing online currency. The tool provides banks with secure verification of their clients’ funds. This feature has helped increased Chainalysis’s revenue considerably.
The company has a lot of competitors in the crypto world, but it continues to prosper despite that. It has uncovered several other scams. The hope is for the company to become the next billion-dollar startup and a social giant with its revelations.