The top cryptocurrency by market value dropped from $10,197 to $9,732 during the Asian trading hours and is currently trading at $9,850, according to CoinDesk's Bitcoin Price Index.
But just five years later, Chainalysis is now the cryptocurrency-tracing equivalent of Palantir, the data analytics company flush with lucrative government software contracts. Chainalysis is, right now, doing millions of dollars worth of business each year with the U.S. government, dwarfing its competitors in the young industry of blockchain surveillance.
It now plans to resubmit the application next month with a view to offering bank accounts to crypto firms from next year.
Clients will be able to securely store tokenized equity in a custody solution developed by Bitbond and von der Heydt in 2019. The solution received approval from the German financial regulator BaFin after changes in the law meant providers required a license to continue offering cryptocurrency custody.
Federal authorities arrested an Ohio man for operating a cryptocurrency laundering service that moved some $300 million in bitcoin via a “tumbling” operation. Larry Dean Harmon of Akron ran an operation called Helix, which partnered with now-defunct underground marketplace AlphaBay, known for illegal activity including drug deals, according to the Department of Justice. The feds shut down AlphaBay in 2017.
Presidential candidate Michael Bloomberg proposed creating a regulatory framework for cryptocurrencies in a new financial regulation plan.
Hanyecz was an early adopter of Bitcoin, the first cryptocurrency, which was launched the previous year by the anonymous figure or group of people known as Satoshi Nakamoto. Many in the tech industry saw the great early potential of Bitcoin to become a secure way to transfer digital currency globally, free of banks and their high fees and completely anonymously.