Chainalysis – CoinDesk


Founded by Michael Gronager, Jonathan Levin and Jan Moller in 2014, Chainalysis provides cryptocurrency exchanges, international law enforcement agencies and other clients with blockchain transaction analysis software to help them comply with regulations, assess risk and identify illicit activity.

The company offers both an investigation software scraping the blockchain for the movements of funds, and a know-your-transaction (KYT) kit intended for businesses to reduce regulatory risks by flagging cryptos that were used in crime or were hacked. Their investigative software platform aims to provide better compliance and enables financial institutions, law enforcement agencies and businesses to identify illicit activity and bad actors related to cryptocurrency.

In April of 2019, Chainalysis added four more cryptocurrencies to its transaction monitoring suite. The newly supported tokens included Binance’s BNB token, Circle’s USDC, Tether’s USDT and Gemini’s GUSD. These increased the firm’s anti-money laundering initiative to tracking 10 currencies, which reportedly represent 85 percent of the top 25 coins by trading volume. Previously, the software had monitored bitcoin, ether, bitcoin cash, litecoin, paxos, and TrueUSD.

The firm now claims to cover “90% of all cryptocurrency activity” on its website.

As CoinDesk discovered, Chainalysis is currently doing millions of dollars-worth of business per year with the U.S. government, having become its leading crypto analysis contractor in terms of the value of contracts.