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Market Analysis Report (13 May 2022)

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New York-based crypto risk monitoring firm, Solidus Labs, has announced that it has raised $45 million in funding, adding to their previous Series A of $20 million. The funds will be used to grow its network of financial partners and for investments in research and development.

“The additional funds will allow us to support the growing cohort of financial institutions looking to expand into the DeFi space, accelerate the deployment of our threat intelligence capabilities, and expand our R&D to solve a fast-growing array of DeFi specific use-cases and needs,” said Asaf Meir, Solidus Labs founder and CEO, in a statement.

The Series B round was led by Liberty City Ventures, with Evolution Equity Partners and Declaration Partners. Angel investors include Brian Brooks, former U.S. Acting Comptroller of the Currency, and Christopher Giancarlo, former chairman of the Commodities Futures Trading Commission.

Earlier this year, Solidus Labs launched the Crypto Market Integrity Coalition — CMIC — which includes the likes of Coinbase, CryptoCompare, and Circle, all of which have pledged to work toward preventing market manipulation.

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  • Source: https://www.cryptocompare.com/email-updates/daily/2022/may/13/

This Post was originally published on CryptoCompare

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