TRM Labs has secured a major funding round that positions it as a leading force in blockchain analytics for law enforcement and private sector clients.

The $70 million Series C, led by Blockchain Capital with participation from Goldman Sachs and other investors, values TRM at about $1 billion and underscores strong confidence in its growth trajectory.

Co-founders Esteban Castaño and Rahul Raina founded TRM Labs in San Francisco in 2018 to provide analytics and risk management as digital asset use expanded.

TRM’s proactive approach to tracking multiple blockchains early helped it establish a foothold against competitors like Chainalysis, aided by a team with government investigative experience.

The funding arrives amid ongoing investment in blockchain analytics as the industry confronts AI-fueled scams and cyberattacks, reinforcing the need for robust tools.

TRM collaborates with government agencies such as the IRS and FBI and with private sector clients, highlighting a public-private model for crypto compliance and enforcement.

TRM provides analytics tools used by law enforcement and companies to monitor blockchain activity, differentiating itself through multi-crypto tracking and recruitment of former investigators.

About 40% of TRM’s customers are in the private sector, with the company expanding as financial institutions explore tokenized assets and digital finance use cases.

TRM has built a growing team of around 350 employees and has delivered roughly 50% annual revenue growth over the past four years, with expectations of continued demand as AI and tokenization expand adoption.

The story is complemented by sponsor and media links promoting AI-powered tools, legal tech, and other digital finance services.

There are ongoing tensions with parts of the crypto community over privacy and decentralization as TRM’s collaborations intersect with allegations of illicit finance, drawing responses from critics.

Beyond TRM, the broader blockchain landscape in early 2026 includes Bitcoin Core expanding maintainers, Ethereum’s Glamsterdam upgrade and ERC-8004 for AI interoperability, Starknet’s outage resolution, ZKsync’s privacy focus, and post-quantum migration roadmaps from OP Stack.