Chainalysis

“Actually by most reports, India, believe it or not, is the number one crypto country in the world by a number of people who use it.”

“It's actually turned Bitcoin. It's something of a honeypot now, because if you used it for nefarious transactions, your transactions record in the blockchain forever, just waiting for chain analysis to find it.”

“The very first investment that she made after she moved over from Greylock and joined Benchmark was Chainalysis, which does not fit any of those categories and was a very, very non-consensus deal to do in the middle of ICO crypto winter in 2017, early 20 18. S…”

“And so chain analysis has become this de facto standard in the space. It just got into a space before other people saw the opportunity And because they were the leader, they were able to build more and more technology. You know, they're able to go across any b…”

“At its peak in 2012, 30% of bitcoin transaction volume, 30%, was associated with dark net markets. Marketplaces like Silk Road or Alpha Bay. And we typically, of course, associate dark net markets with criminal activity. But by 2018, that number is down to one…”

“There's also services like Chainalysis and Elliptic, whose sole purpose is to de-anonymize networks like Bitcoin. So they have entire teams of machine learning experts to really try to trace some of these coins and what the identity is.”

“We started with, like, the Mt. Gox investigation. Probably some people in this room lost money in Mt. Gox I can imagine. And, you know, we went looking for where it went, and, you know, were contracted by the trustee to look into that and actually built some i…”

“So, you know, we roughly track around 80% of the value being transacted on the Bitcoin network where we can identify, you know, one of the sides of, ah, of the transaction.”

“A lot of it's much more about like the structural nature of the Bitcoin blockchain. Actually the wallet that is crafting these transactions leaves fingerprints That we can basically pick up on.”