Blockchain analytics firm Chainalysis joins Duolingo, Patreon on Forbes' next billion-dollar startups list

Published on by Cryptoslate | Published on

Crypto compliance and investigation provider Chainalysis has become the only blockchain company to make Forbes' next billion-dollar startups list of 2019, joining the ranks of tech giants-Patreon and Duolingo.

Forbes believes Chainalysis will be the next billion-dollar startup.

Chainalysis, a blockchain analysis company founded in 2014, recently became the first crypto company to make Forbes' "Next billion-dollar startup" list of 2019.

The legendary publication seems to believe that the astronomic growth the company has seen in the past two years will help Chainalysis join the handful of unicorns in the crypto business.

Levin told Forbes the company started focusing on crypto thefts and Bitcoin usage on the now-defunct Silk Road marketplace.

Chainalysis' ability to identify blockchain patterns became known to the public when the company managed to locate 650,000 bitcoin stolen from Mt Gox.

The attention Levin and Chainalysis got after testifying in front of a U.S. financial services panel meant that the company had found its true calling - cracking down crypto crime.

There has been a steady increase in companies looking to challenge Chainalysis in the past couple of years.

Bitfury, Chainalysis' biggest competitor, also made the inaugural Forbes Blockchain 50 list and is currently valued at more than $1 billion.

Despite increased competition and an entirely accidental foray into blockchain investigation, Chainalysis still remains one of blockchain's most promising companies.

x