The Crypto safety startup Solidus Labs has closed $45 million in a Series B funding round headlined by Liberty City Ventures at a confidential valuation. The funding will assist in launching threat intelligence abilities and building the research and development team which will deal with cases specific to decentralized finance (DeFi).
Founded in 2018 by a team of former Goldman Sachs engineers and cybersecurity professionals, Asaf Meir, Praveen Kumar and Chen Arad, Solidus Labs is aiming to bridge the regulatory, risk, and compliance gap between crypto and the traditional financial world.
“If you believe as an investor that crypto, DeFi, Web 3 are going to continue to grow, you need to build healthy pipelines for this industry. This is exactly what Solidus is doing,” Asaf Meir said.
“How fast crypto and DeFi will be able to grow depends on how effective critical guardrails and checks and balances are – and Solidus is consistently leading the market in providing innovative, crypto-native market integrity solutions,” said Emil Woods, the partner at Liberty City Ventures.
Solidus Labs introduced Halo in March, which is a machine learning driven crypto-native trade observing and market intelligence hub which offers institutional-grade regulatory risk and compliance solutions. Halo is monitoring over 1 trillion trading events every single day in more than 150 markets, the press release said.
Evolution Equity Partners and Declaration Partners also participated in the round. Brian Brooks, former U.S. Acting Comptroller of the Currency, and Christopher Giancarlo, former chairman of the Commodities Futures Trading Commission were the angel investors in B-round.
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