Bitcoin News and Finance
Crypto Analytics Firm Coin Metrics Raises $15 Million, Goldman Sachs Leads Funding Round Skip to main content

Crypto Analytics Firm Coin Metrics Raises $15 Million, Goldman Sachs Leads Funding Round

Crypto Analytics Firm Coin Metrics Raises $15 Million, Goldman Sachs Leads Funding Round

On May 5, the cryptocurrency data and analytics provider Coin Metrics announced the firm has raised $15 million in Series B financing round. The funding was led by Goldman Sachs and a number of other venture firms, as digital currency data has become a hot commodity in recent times.

Digital Currency Data and Analytics Firm Coin Metrics Raises $15 Million

The Boston-based Coin Metrics has revealed the company has raised $15 million in a Series B financing round that was led by the American multinational investment bank and financial services company, Goldman Sachs.

The company Coin Metrics provides analytical market data, indexes, and network risk solutions for a myriad of digital currencies like bitcoin (BTC) and ethereum (ETH). In addition to Goldman Sachs, the financing round was also bolstered by Collab+Currency, Castle Island Ventures, Highland Capital Partners, Avon Ventures, Communitas Capital, and Fidelity Investments.

Coin Metrics details that the company has “institutionalized their network and market data offerings over the past 18 months.” Some of the largest names in the world of finance and the cryptocurrency industry leverage Coin Metrics’ products, the announcement notes.

Firms like Fidelity Investments, Osprey Funds, and Blockfi have been utilizing several analytics products. Fidelity recently launched its own data and analytics platform called “Sherlock.” Coin Metrics has also revealed that the firm has launched two new products called FARUM and ATLAS.

“FARUM and ATLAS are perfect complements to our network and market data products,” Tim Rice, cofounder, and CEO of Coin Metrics explained during the announcement. “The tremendous interest we are seeing in these offerings reinforces the value of on-chain data to institutions engaging in crypto assets.”

Crypto Data and Analytics Products Swell

The company adds that since the Series A funding round in 2019, Coin Metrics has built a team of crypto veterans and individuals involved in traditional financial services. For many years now, Goldman Sachs has been interested in the innovation cryptocurrency solutions and blockchain technology provides.

“Data is critical for the mainstream adoption of crypto assets by traditional investors and financial services players. Our clients will greatly benefit from Coin Metrics’ institutional-grade data insights and emerging risk management tools,” Mathew McDermott, Global Head of Digital Assets of Goldman Sachs said.

Coin Metrics’ recent Series B financing round follows the recent acquisition of Skew analytics, as the firm joined Coinbase last week. Crypto data companies have swelled during the last 12 months a great deal, as companies like Cryptoquant, Dune Analytics, Glassnode, and Messari are giving cryptocurrency investors detailed data sets and deep analysis.

What do you think about Coin Metrics raising $15 million in a Series B financing round led by Goldman Sachs? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory