Former regulators join $45 million round in crypto risk platform Solidus Labs

finextra.com:

The announcement comes on the backdrop of record breaking crypto and DeFi adoption - with some estimates placing total value locked (TVL) in DeFi at more than $200 billion in the beginning of 2022 - which has seen Solidus Labs quadruple its team over 2021 amid massive demand.In March, the firm unveiled its all-in-one crypto-native risk monitoring suite, Halo, which is currently monitoring more than one trillion trading events per day in more than 150 markets. The platform deploys over 50 different proprietary market abuse typologies, shielding investors and safeguarding crypto businesses from new threats unique to the crypto and decentralized finance space.“For Web3 and the DeFi economy to truly fulfill their massive potential, there’s a need to mitigate new risks - both in terms of liquidity enablement and on the consumer and investor protection side.

This is where Solidus’ crypto-native solutions come into play, and the reason we’ve been experiencing a 560% year-over-year revenue increase,” says Asaf Meir, Solidus’ founder and chief executive. “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.”