The IRS donated Chainalysis licenses to Ukraine, and approximately 50 Ukrainian law enforcement officers received training to track Russian individuals using cryptocurrency to evade sanctions after the 2022 invasion. Chainalysis also launched free sanctions screening tools (an on-chain oracle and API) in March 2022 to help decentralized platforms comply with sanctions against Russian entities. The company monitors for on-chain indicators of crypto-based sanctions evasion and alerts government partners of relevant activity.
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Chainalysis cut approximately 150 employees (15% of its 900-person workforce) in October 2023, the second round in 2023 after a 5% cut in February. CEO Michael Gronager attributed the layoffs to "market conditions." The majority of cuts came from marketing and business development teams focused on the private sector, as the company shifted focus toward more stable government contracts. Chainalysis was valued at $8.6B in 2022 before the crypto market decline.
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Chainalysis — Layoffs: OPPOSED Chainalysis cut approximately 150 employees (15% of its 900-person workforce) in October 2023, the second round in 2023 after a 5% cut in February. CEO Michael Gronager attribut… https://reciepts.tech/stance/1678
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See all →Chainalysis has been contracted by most federal law enforcement agencies since 2015, including IRS-Criminal Investigation, ICE, FBI, and DEA for blockchain surveillance. Federal spending on Chainalysis reached over $5M annually by 2019 — a 22,000%+ increase from just years prior. The IRS awarded Chainalysis a $625K contract to develop tools to track privacy coins like Monero and Lightning Network. In 2026, Chainalysis sued the government after ICE awarded a $94.6M contract to competitor TRM Labs, calling it the largest blockchain analytics contract ever.