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U.S. Government agencies paid nearly $10M for blockchain analysis; led by IRS, FBI and ICE

by Larry Cermak

September 6, 2019, 12:20PM EDT  ·  3 min read

Quick Take

  • The total amount raised by blockchain analysis companies to date is $107 million
  • Blockchain analysis is utilized by virtually all compliant businesses that deal with cryptocurrencies but is also utilized by government agencies
  • U.S. Government agencies have entered purchase orders and contracts with blockchain analysis companies worth nearly $10 million to date
  • The IRS, ICE, and FBI made up nearly 85% of that total

by Larry Cermak

September 6, 2019, 12:20PM EDT  ·  3 min read

Companies focusing exclusively on blockchain analysis have raised more than $100 million in venture capital to date. These firms help businesses that deal with cryptocurrencies remain compliant with strict AML and KYC obligations.

The blockchain analysis firms utilize the data-sharing model by collecting the transactional data from all the clients they serve (mostly fiat-to-crypto exchanges and governmental agencies).