Funding has been secured for Solidus Labs, a New York-based crypto asset risk monitoring organisation, by 45 million dollars in order to expand its network of financial partners as well as spend more on research and development.
Liberty City Ventures led the investment, with Evolution Equity Partners and Proclamation Partners joining as co-investors. Ex-U.S. Acting Comptroller of the Currency Brian Brooks is an angel investor, as is former Commodities Futures Trading Commission Chairman Christopher Giancarlo.
Our threat intelligence capabilities can now be deployed more quickly, and we can extend our R&D skills to meet the rapidly expanding range of Defi-specific use-cases and demands, thanks in large part to the increased funding, according to CEO Asaf Meir. Founded in 2017, Solidus aims to assist businesses to identify and report instances of market manipulation.
The business created the Crypto Market Integrity Coalition (CMIC) earlier this year, which comprised companies including Coinbase, Robinhood, and Gemini. They made a joint commitment to do all they could to keep market manipulation at bay. Later, the company introduced an “all-in-one” crypto risk monitoring package to safeguard investors from dangers specific to DeFi.
An additional $15 million in strategic capital was added to the company’s $20 million Series A round in November 2021.
Since the beginning of 2021, the team has allegedly doubled in size due to a rise in demand for security in the sector.
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