JPMorgan Joins Blockchain Analytics Firm Elliptic’s $60 Million Series C

Despite the massive volatility that we’ve seen in the crypto space, there are all kinds of exciting moves that are being made, supporting the rising popularity of crypto and the mass adoption of digital assets and their underlying tech, the blockchain.

It’s been just revealed that the Blockchain analytics startup Elliptic said on Thursday that JPMorgan had joined its roster of investors who participated in its October 2021 $60 million Series C fundraise.

Accoridng to the online publication the BlockCrypto, the round was led by Evolution Equity Partners and included SoftBank Vision Fund 2, AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire, and Paladin Capital Group.

The same publication also made sure to note the fact that Elliptic works with businesses and government agencies to analyze blockchains for nefarious activities.

It works with companies including Coinbase, on their internal anti-money laundering compliance. Other clients that they have at the moment include Santander, Revolut, Genesis, and Stellar.

“As more established financial institutions move into the sector, these companies need to understand when they can let transactions run — and when they should intervene.”

This is what Elliptic CEO Simone Maini in a press release.

Maini continued and stated the following as well:

“Stopping financial crime is not just a regulatory requirement but an ethical one, and a safe ecosystem is a healthy ecosystem.”

Check out more details in the original article. 

Other than this, the crypto space looks good, with all kinds of exciting events taking place to support the mass adoption of digital assets.

The crypto market, on the other hand, is making considerable efforts to recover following the massive crash that took place a while ago.

At the moment of writing this article, Bitcoin and most of the essential coins out there are trading in the red. While some investors are freaking out, others are saying that this is the best time for accumulation.