Blockchain intelligence platform TRM Labs completed a $70 million Series C funding round, valuing it at $1 billion, becoming the latest crypto company to reach unicorn status.
The investment round was led by seed investor Blockchain Capital, with participation from Goldman Sachs, Bessemer Venture Partners, Brevan Howard Digital, Thoma Bravo, Citi Ventures and Galaxy Ventures, according to a Wednesday news release.
TRM Labs seeks to equip public and private institutions with AI solutions that combat cybercrime. The company defends against illicit activities that increasingly rely on automation.
“At TRM, we’re building AI for problems that have real consequences for public safety, financial integrity, and national security,” wrote Esteban Castaño, co-founder and CEO of TRM Labs.
“This funding allows our world-class team — and the people who will join us next — to innovate alongside institutions on the front lines of the most consequential threats, and expand the potential of AI to meaningfully improve how our critical systems are protected.”
The $70 million round shows that capital is flowing into blockchain analytics platforms seeking to stop the spread of AI-fueled scams and cyberattacks, including from large traditional institutions.
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TRM Labs to expand global workforce, advance AI compliance and investigation tools
TRM is a San Francisco-headquartered company with hubs in Los Angeles, New York, Washington, London and Singapore.
It said the new capital will be used to expand its global workforce of AI researchers, data scientists, engineers and financial crime experts.
The company will also advance its AI-powered investigations to disrupt illicit activity and advance its solutions that help institutions manage financial crime risks.
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Crypto phishing scams see resurgence due to generative AI advancements
Crypto phishing scams have been a long-standing issue in the industry, which saw a resurgence following advancements in generative AI. They involve hackers sharing fraudulent links with victims to steal sensitive information, such as crypto wallet private keys.
In December, a Bitcoin (BTC) investor lost his entire retirement fund to an AI-fueled romance scam known as a “pig butchering.” In this case, the scammer used AI-generated images to emotionally manipulate the victim into sending over his Bitcoin.
Still, the falling number of incidents suggests that investors are becoming better at safeguarding their assets from attackers.
Losses to phishing scams decreased 83% year-on-year, falling to $83.3 million in 2025, from $494 million in 2024, according to a report from Web3 security tool Scam Sniffer
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