TRM Labs has doubled its valuation to $2 billion following an expansion of its Series C funding round led by Blockchain Capital. The blockchain intelligence firm reported that its annual recurring revenue has quadrupled over the past three years. It provides AI-powered investigation tools used by more than 600 government agencies and private-sector institutions across 75 countries. TRM also secured an approximately $95 million contract with US Immigration and Customs Enforcement (ICE) for forensic software, a deal challenged in court by rival Chainalysis.
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