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TRM Labs hits unicorn status in $70 million raise as crypto crime-fighting needs grow

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TRM Labs hits unicorn status in $70 million raise as crypto crime-fighting needs grow

TRM Labs, a blockchain analytics startup used by global law enforcement and financial firms, has raised $70 million in a new funding round that pushed its valuation to $1 billion.

The Series C round, Fortune reports, was led by Blockchain Capital with participation from Goldman Sachs, Citi Ventures, Bessemer, Thoma Bravo and Brevan Howard. The firm, according to data from TheTie, had raised nearly $150 million to date, having seen another $70 million fundraise back in 2023, along with other smaller fundraising rounds. That brings the total raised to $220 million.

The firm’s software helps trace cryptocurrency transactions across multiple blockchains, a service increasingly in demand as crypto crime grows more complex.

TRM counts several major government agencies, including the IRS and FBI, among its clients, as well as major banks. It was an early mover in tracking not just bitcoin but various other cryptocurrencies, a decision that set it apart from competitors. That edge has become more valuable as criminal networks diversify their use of tokens and platforms.

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TRM’s global investigations team includes former federal agents, including veterans of cases that include the takedown of dark web marketplaces.

The company foresees growth in the future, given the rising sophistication of threats in the cryptocurrency space. Per Ari Redbord, TRM’s global head of policy, the company saw a 500% increase in “AI-enabled use in scams and fraud.”

TRM has also partnered with leading blockchain projects like Tron and Tether to expand its intelligence. That partnership created the T3 Financial Crime Unit task force, and has frozen more than $300 million in tainted assets.

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Crypto World

Bitcoin Price Falls to a New Low

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Bitcoin Price Falls to a New Low

As the BTC/USD chart shows, prices dropped below $74,000 yesterday. This marks the lowest level since November 2024, when the cryptocurrency was rallying on news of Trump’s election victory.

At the same time, sentiment indicators are signalling “extreme fear” across the market. This was reinforced by the break below the key April 2025 low near $74,450.

The media has been circulating increasingly alarming headlines:
→ Michael Burry, well known for his bearish calls, has suggested that a drop below the $70k level could create problems for the largest coin holder, MicroStrategy (MSTR);
→ Matt Hougan, Chief Investment Officer at Bitwise, warns that the market may be heading for a “full-blown” crypto winter rather than a simple correction.

Technical Analysis of the BTC/USD Chart

The price continues to move further away from the support level whose break we highlighted on 30 January.

At the same time, the market appears extremely oversold:
→ the price has fallen below the lower boundary of the previously drawn descending red channel;
→ the RSI indicator is forming bullish divergences.

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Under these conditions, it is reasonable to assume that the market may be setting up for a technical rebound. This scenario looks particularly plausible given the scale of long position liquidations — around $2.5 billion were wiped out on 31 January alone.

If a recovery does unfold, a key test of bullish intent will be the psychological $80k area, where bears previously held clear control while breaking below the lower boundary of the descending channel.

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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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Survey Shows Crypto Investors Favor Infrastructure Over DeFi

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Survey Shows Crypto Investors Favor Infrastructure Over DeFi

A survey of senior crypto investors and executives suggests capital priorities are shifting away from decentralized finance (DeFi) and toward core infrastructure, as decision-makers focus on liquidity constraints and market plumbing. 

The findings come from a new report published by the digital asset conference CfC St. Moritz, based on responses from 242 attendees of its invitation-only event in January. Respondents included institutional investors, founders, C-suite executives, regulators and family office representatives. 

According to the survey, 85% of respondents selected infrastructure as their top funding priority, ahead of DeFi, compliance, cybersecurity and user experience. 

While expectations for revenue growth and innovation remain broadly positive, respondents flagged liquidity shortages as the industry’s most pressing risk. The results suggest that investor interest remains, but capital deployment is becoming more selective.

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Respondents on crypto innovation. Source: CfC St. Moritz

Infrastructure takes priority as liquidity concerns persist

Respondents pointed to market depth and settlement capacity as key bottlenecks preventing larger pools of institutional capital from entering crypto markets. 

About 84% of respondents described the macroeconomic backdrop as better than neutral for crypto growth, though many said existing market infrastructure remains insufficient for large-scale capitalization.

The survey also showed a change in innovation expectations. While a majority expects innovation to accelerate in 2026, fewer respondents anticipate a sharp increase compared to last year, suggesting a shift away from more speculative expectations toward execution-focused development.

This shift aligns with broader industry trends, including a focus on custody, clearing, stablecoin infrastructure and tokenization frameworks rather than consumer-facing applications. 

Related: CoreWeave shows how crypto-era infrastructure quietly became AI’s backbone

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US sentiment improves as IPO expectations cool

The survey found a sharp improvement in perceptions of the US regulatory environment, with respondents ranking the country as the second-most favorable jurisdiction for digital assets, behind the United Arab Emirates. 

CfC St. Moritz attributed the shift to stablecoin legislation and clearer rules for banks and regulated market participants. 

At the same time, expectations for crypto initial public offerings cooled after what respondents described as a record year in 2025. While most still expect listings to continue, fewer expressed high confidence, citing valuation resets and liquidity constraints.