According to Fortune magazine, cryptocurrency compliance and investigation startup TRM Labs announced the completion of a $70 million Series C funding round, valuing the company at $1 billion and making it a new "crypto unicorn." The round was led by early investor Blockchain Capital, with participation from Goldman Sachs, Bessemer, Brevan Howard, Thoma Bravo, and traditional institutions such as Citigroup Ventures. Founded in 2018 by Esteban Castaño and Rahul Raina, TRM Labs' blockchain analytics software is widely used by law enforcement agencies worldwide and a growing number of private companies using cryptocurrencies for fund transfers. Currently, approximately 40% of TRM's clients are from the private sector, and this percentage is growing as financial institutions explore tokenized deposits, equity, and other assets. The company's team has rapidly expanded to 350 people and is leveraging AI technology to address the evolving methods of crime.