Market surveillance firm Solidus Labs completed a $15 million strategic round led by Liberty City Ventures on Friday. GSR and Exor Seeds also participated in the financing. This follows the company's $20 million Series A that concluded in May. Solidus' investors also include former CFTC Chair Christopher Giancarlo and former SEC commissioner Troy Paredes.
The company hired former CFPB Director Kathy Kraninger as it’s VP of Regulatory affairs in July. Solidus CEO Asaf Meir said:
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"This strategic round will allow us to serve more clients sooner and address many new use-cases in the DeFi and NFT risk frontiers, which require Solidus’ unique combination of crypto know-how and expertise in traditional trading dynamics and manipulation typologies."
According to Liberty City Ventures Partner Emil Woods, “Solidus was prescient in developing the necessary tools for market surveillance and risk monitoring that traditional financial firms and regulators require as they increase their participation in crypto asset markets.”
Solidus announced its initial $3 million raise in 2019. Giancarlo warned in June that he believes the U.S. risks becoming a backwater country without a central bank digital currency.
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