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Coinbase launches new line of products to mitigate fraud

Coinbase is launching a new line of products to keep pace with global crypto regulations and prevent illegal transactions. The new initiative, dubbed Coinbase Intelligence, features Coinbase Know Your Transaction (KYT) and an update to its existing Coinbase Analytics offering. Coinbase KYT allows companies to spot illegal transactions through an API and monitor transactions in real-time to mitigate risk based on a “proprietary risk scoring system,” according to a blog post from the company published Thursday. Coinbase Analytics, which was …

NYDFS encourages crypto firms to use blockchain analytics services

The New York State Department of Financial Services (NYDFS) on Thursday encouraged crypto firms working in the state to adopt blockchain analytics tools and services.  The guidance establishes “the use of blockchain analytics tools as a best practice to prevent and manage financial risks and suspicious activities,” the agency said. The NYDFS is the chief state regulator in New York for crypto firms.  Superintendent Adrienne Harris said in a statement: “Blockchain analytics tools provide companies with an efficient, data-driven way …

Dune Analytics is raising funds at a $1 billion valuation: sources

Dune Analytics, the Norwegian crypto analytics startup, is raising a fresh round of financing at a strikingly high valuation of $1 billion, according to several investors with knowledge of the round. One person close to the deal said that Coatue Management, the hedge fund, will participate in the fundraise.  While further details of the deal remain unclear, the valuation is noteworthy in that it comes just four months after the startup — which was founded in 2018 — closed an …

Data startup Nansen secures fresh funding at $750 million valuation

Crypto analytics startup Nansen has secured its next fundraise at a $750 million valuation, in a round led by Accel, according to several investors close to the deal. The news was announced earlier today, with reports stating that Nansen had secured $75 million in a round featuring existing backer a16z and Tiger Global alongside Accel. But those reports did not specify a valuation.  The deal comes less than six months on from the Singapore-based startup’s $12 million Series A raise — …