Solidus Labs, a New York-based risk monitoring firm for crypto assets, has raised $45 million in funding to grow its network of financial partners and invest more money into research and development.
The 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.
“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, founder and CEO, in a statement.
Solidus was formed in 2017 with the aim of helping companies spot and report market manipulation.
Earlier this year, the company launched the Crypto Market Integrity Coalition, or CMIC, which included a group of firms like Coinbase, Robinhood, and Gemini. Together, they pledged to work toward preventing market manipulation. Later, the firm launched an “all-in-one” crypto risk monitoring suite to protect investors from threats unique to DeFi.
The team has reportedly quadrupled since the beginning of 2021, as more demand for security in the space has increased over the past year.
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