Chainalysis Launches Business Data Offering
- This is Chainalysis’s first product offering aimed at helping crypto businesses drive user growth.
- The company will also offer expert services from its data scientists alongside the new new dataset.
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Announced in a press release on 20 May, the Business Data offering will be powered by Chainalysis’s proprietary data, which is already used by cryptocurrency businesses across the world for compliance. This is the company’s first product designed for marketing, finance, and product development teams to help them drive user growth.
Chainalysis’s Business Data will harness the company’s expansive dataset to help exchanges and other cryptocurrency businesses tailor their products towards new users and identify new revenue streams. The product will be delivered as a data feed that can be integrated into customers’ data warehouses and used to enrich existing datasets. Chainalysis will also offer expert services alongside the dataset—the company’s data scientists will be able to assist customers in integration and analysis.
Jonathan Levin, the Co-Founder and Chief Strategy Officer at Chainalysis, said that given the right data, businesses can gain valuable intelligence to inform their growth strategies.
“This level of data-driven business development is another advantage of blockchains that just isn’t possible in traditional finance,” he said in the company’s press release.
Business Data is already available as a subscription offering.
- While there are still two weeks to go, Chainalysis data shows October has already become the biggest month for crypto crime, with $718 million being stolen across 11 hacks.
- 2022 was also close to becoming the most profitable year for crypto criminals, with 125 hacks being responsible for the loss of $3 billion.
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- The Series F round has more than doubled Chainalysis’ valuation since last year, which is not surprising considering it has increased its customer base by 75%.
- The company has claimed that its various tools are now responsible for monitoring around $1 trillion worth of transactions each month.
- Roman Semenov, co-founder of Tornado Cash, explained that the blockade only applies to the platform’s frontend, and not the underlying smart contract.
- The news came only a day after the Treasury Department alleged that North Korean hacker group Lazarus was connected to the $625 million Ronin bridge hack.