/ Pre-IPO Risk Index / Chainalysis

Chainalysis

Crypto Infrastructure · Pre-IPO · $8.6B (Q2 2022, secondary 2024 stable)
B

Good (B) — Round Z Pre-IPO Risk Grade

Chainalysis operates blockchain analytics infrastructure for government law-enforcement and financial-services customers. Strong U.S. and EU government customer base. Clean governance and disciplined valuation trajectory.

82
Composite / 100
/ Subscore Breakdown · 5 Dimensions

Where this grade comes from.

Governance Risk
B+
Valuation Methodology
B
Secondary Liquidity
B-
Financial Disclosure
B
Exit Probability
B
/ Public-Record Events

Key risk events & disclosures.

  • Strong U.S. government customer base (DEA, FBI, IRS, Treasury)
  • EU + UK regulator customer expansion 2024
  • Crypto market recovery 2024-2025 supports revenue trajectory
  • Conservative valuation maintained through 2022-2024 crypto winter

/ Best for

Investors seeking crypto-infrastructure exposure with strong government-customer moat and disciplined valuation through crypto-cycle volatility.

/ Watch out for

Crypto market cyclicality affects financial-services customer revenue.