Chainalysis Buys Bitcoin for Its Balance Sheet With NYDIG’s Help

On Tuesday (October 19), RegTech firm Chainalysis announced announced that it is “expanding its long-standing partnership with NYDIG, a leading Bitcoin technology and financial services firm, to execute a purchase of bitcoin for the firm’s balance sheet.”

According to the blog post published by Chainalysis team earlier today, NYDIG “played a critical role in enabling Chainalysis to buy and custody bitcoin.”

Nate Conrad, NYDIG’s Head of Asset Management, had this to say:

“Our expanding partnership with Chainalysis is a mutually beneficial relationship. Chainalysis has long been building trust in the digital asset ecosystem, and this investment shows their belief that bitcoin is a sound investment for the future. We are happy that they trusted our platform to safeguard their assets.“

And Michael Gronager, co-founder and CEO at Chainalysis, added:

“Chainalysis is laser-focused on its commitment to building trust in cryptocurrency as a digital asset, and we are thrilled to be adding Bitcoin to our corporate investment portfolio. With any financial transaction, a level of trust and transparency is necessary.

“Our longstanding relationship with NYDIG enabled us to invest with confidence, knowing we were dealing with an industry leader. This is Chainalysis’ first acquisition of cryptocurrency, and we will continue to pursue other digital assets as potential future investments.“

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

Image Credit

Featured Image by “jaydeep_” via Pixabay

Source: Read Full Article