Coinbase Acquires Blockchain Analytics Startup Neutrino

Coinbase has just announced that is acquiring blockchain intelligence platform Neutrino. According to the details made available, Neutrino will continue to function as a standalone business out of the Coinbase London office. The amount of the acquisition has not been made public yet. 

The company stated in its blog:

“By analysing data on public blockchains, Neutrino will help us prevent theft of funds from peoples’ accounts, investigate ransomware attacks, and identify bad actors. It will also help us bring more cryptocurrencies and features to more people while helping ensure compliance with local laws and regulations.”

However, Coinbase is also facing a lot of flak for its newest acquisition. Neutrino’s CEO, Giancarlo Russo, who had previously worked for a company called HackingTeam had been accused of sharing data with government agencies. Prominent voices like Arjun Balaji and Meltem Demirrors have expressed concern about Coinbase’s acquisition. 

Incidentally, Coinbase also acquired API data management company Blockspring in January this year. 

(Image Credit: Coinbase Blog)