Crypto Analytics Firm Coin Metrics Raises $15 Million, Goldman Sachs Leads Funding Round – Finance Bitcoin News

Hey there! Before reading the article which is about Crypto Analytics Firm Coin Metrics Raises $15 Million, Goldman Sachs Leads Funding Round – Finance Bitcoin News, you should read about bitcoin news today. It shares basic information about this article and also adds more value to it. Do let us know how you feel about it in the comment section below. Happy Reading! Really glad that you are here.

Crypto analytics firm Coin Metrics has just closed a $15 million funding round, led by Goldman Sachs. The round, which brings Coin Metrics’ total funding to $25 million, will be used to double the company’s headcount in both its New York and London offices. The investment will also be used to further develop the company’s proprietary trading algorithms and build out Coins’ data science team, the company said in a press release.

Cryptocurrency is an extremely complex system. The real-time pricing of crypto assets, the network effect, and the new market dynamics are all part of what makes the currency so interesting and lucrative. With that in mind, it makes sense that crypto analytics firm Coin Metrics is raising money and attracting big names in investment like Goldman Sachs. The company raised $15 million in a Series A funding round, led by Goldman Sachs’ Principal Strategic Investments Group.

The 5th. In May, Coin Metrics announced that it had raised $15 million in Series B funding. Goldman Sachs and a number of other venture capital firms led the funding as digital currency data has become a hot commodity recently.

Coin Metrics, a company that analyzes data on digital currencies, has raised $15 million

Boston-based Coin Metrics has announced that it has raised $15 million in a Series B funding round led by US multinational investment bank and financial services firm Goldman Sachs.

Coin Metrics provides market intelligence, indices and network risk solutions for various digital currencies, including bitcoin (BTC) and etherium (ETH). In addition to Goldman Sachs, Collab+Currency, Castle Island Ventures, Highland Capital Partners, Avon Ventures, Communitas Capital and Fidelity Investments also participated in the round.

Coin Metrics says it has institutionalized its network and market data offerings over the past 18 months. Some of the biggest names in finance and cryptocurrencies use Coin Metrics’ products, according to the report.

Firms such as Fidelity Investments, Osprey Funds and Blockfi use a variety of analytics products. Fidelity recently launched its own data and analytics platform called Sherlock. Coin Metrics also reported that it has launched two new products, FARUM and ATLAS.

FARUM and ATLAS are an ideal complement to our network and market data products, said Tim Rice, co-founder and CEO of Coin Metrics, at the announcement. The huge interest we are seeing in these offerings confirms the value of blockchain data for crypto institutions.

Data and analytics products for cryptocurrencies are gaining popularity

The company adds that since its 2019 Series A funding round, Coin Metrics has built a team of crypto veterans and traditional financial services providers. Goldman Sachs has been interested in cryptocurrency innovation and blockchain technology for years.

Data is critical to the adoption of crypto assets by traditional investors and financial services firms. Our clients will benefit greatly from Coin Metrics’ institutional-level data analytics and new risk management tools, said Matthew McDermott, global head of digital assets at Goldman Sachs.

Coin Metrics’ latest Series B funding round follows its recent acquisition of analytics company Skew, which joined Coinbase last week. Data companies in cryptocurrencies have grown tremendously over the past 12 months, with Cryptoquant, Dune Analytics, Glassnode and Messari providing cryptocurrency investors with detailed datasets and in-depth analytics.

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

Tags in this story

Analytics, Bitcoin (BTC), Boston, Coin Metrics, Coinbase, cryptoassets, crypto data, crypto stats, Cryptoquant, data, Dune Analytics, Ethereum (ETH), finance, glassnode, Goldman Sachs, Market Insight, Matthew McDermott, messari, Skew, Tim Rice

Photo credit: Shutterstock, Pixabay, Wiki Commons

Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.

This source has been very much helpful in doing our research. Read more about is bitcoin safe and let us know what you think.

Related Tags:

bitcoin news todaynew cryptocurrencycryptocurrency pricesis bitcoin safe,People also search for,Privacy settings,How Search works,bitcoin news today,new cryptocurrency,cryptocurrency prices,is bitcoin safe

Get in Touch

Related Articles

Stellar Lumens Price Prediction (XLM) for 2021, 2022, & 2025

Stellar is one of the most promising cryptocurrencies in the market, with a $4 billion market cap and an impressive number of partnerships. Its...

Ray Dalio Says if Successful, Bitcoin Will Be Killed by Authorities

Ray Dalio, the billionaire founder of Bridgewater Associates, believes that if Bitcoin were to become successful, authorities would kill it. Ray Dalio, the founder of...

QTUM Coin – Ultimate Cryptocurrency Guide for 2018

QTUM is a project with the mission of providing blockchain technology to mobile devices. It was founded by the Chinese company, Alibaba Group Holding...

Latest Posts

Stellar Lumens Price Prediction (XLM) for 2021, 2022, & 2025

Stellar is one of the most promising cryptocurrencies in the market, with a $4 billion market cap and an impressive number of partnerships. Its...

Ray Dalio Says if Successful, Bitcoin Will Be Killed by Authorities

Ray Dalio, the billionaire founder of Bridgewater Associates, believes that if Bitcoin were to become successful, authorities would kill it. Ray Dalio, the founder of...

QTUM Coin – Ultimate Cryptocurrency Guide for 2018

QTUM is a project with the mission of providing blockchain technology to mobile devices. It was founded by the Chinese company, Alibaba Group Holding...

Bitcoin Has Tapped $50K Since May; Total Market Capitalization Turns $943B

Bitcoin has reached $50,000 in value since May and the total market capitalization of cryptocurrencies is now at $943 billion. The price surge is...

How to Buy Ark Coin: Using Coinbase and Binance

Ark is a platform that runs on its own blockchain. It allows for the creation of dApps and smart contracts, which are then run...