Chainalysis Adds Bitcoin To Balance Sheet

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Blockchain tracing platform Chainalysis announced today the execution of a bitcoin purchase through NYDIG for the firm’s balance sheet, marking an advancement of a long-standing partnership between the two companies. Despite the bullish purchase, Chainalysis is still a surveillance company acting in self-interests and against the Bitcoin ethos.

“Our expanding partnership with Chainalysis is a mutually beneficial relationship,” said Nate Conrad, NYDIG’s Head of Asset Management, in the announcement. “We are happy that they trusted our platform to safeguard their assets.”

NYDIG is a services provider for institutional investors seeking bitcoin exposure. The firm specializes in trading, execution, and custody of BTC, and has enabled Chainalysis to acquire an undisclosed amount of bitcoin for its balance sheet.

“We are thrilled to be adding Bitcoin to our corporate investment portfolio,” said Michael Gronager, co-founder and CEO at Chainalysis, per the announcement. “Our longstanding relationship with NYDIG enabled us to invest with confidence, knowing we were dealing with an industry leader.”



Source link Bitcoin Magazine

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