Tracxn - Cryptocurrencies Startup Landscape

SEPTEMBER 2018
CRYPTOCURRENCIES

Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Cryptocurrencies - Sep 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on September 8, 2018.
Cryptocurrencies Feed Summary
4
Cryptocurrencies > Feed Summary
All companies that provide bitcoin and other digital currency products and services.
• Inclusions: Companies enabling circulation of Bitcoin/
Cryptocurrency. They help in mining, trading,
investments, transfer, save or spend (payments) Bitcoins.
• Exclusions: Excludes bitcoin faucets or websites that
enable bitcoin circulation without being registered or do
not plan to register as companies in near future.
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$2.6B
Funding
14
Mega
Companies
5253405
FundedCovered on
Tracxn
2
Unicorns
8
Soonicorns
30
Minicorns
10
IPO’d Cos
107
Late Stage Cos
7
58
Acquisitions
375
DeadPooled
1
Acquihired
Series A+ Cos
Ripple
(2012, San Francisco, $90.5M)
Blockchain
(2011, London, $70M)
Coinbase
Top Companies

Investment Trend Summary
Summary of Funding Activity in Cryptocurrencies
5
$217M - Series E
Coinbase (2012, San Francisco, $44.2M)
$108M - Series D
$177M - Series C
BitGo (2013, San Francisco, $232M)
$74.6M - Series B
Ledger (2014, Paris, $83.1M)
$140M - PE
BlockTower (2017, New York City, $140M)
$57.5M - Angel
Uphold (2014, San Francisco, $73M)
$133M - Series B
Basis (2017, Hoboken, $133M)
$55M - Series B
Ripple (2012, San Francisco, $90.5M)
$110M - Series E
Circle (2013, Boston, $246M)
$52.5M - Series B
BlockFi (2017, New York City, $57M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Cryptocurrencies > Feed Summary > Investment Trend Summary
Seed
Digital Currency Group (#17), Blockchain Capital (#8), Pantera
Capital (#8)
Series A/B
Digital Currency Group (#17), Pantera Capital (#8), Blockchain
Capital (#6)
Series C+
Battery Ventures (#1), Blockchain Capital (#1), Digital Currency
Group (#1)
Incubators Boost VC (#38), 500 Startups (#13), Plug and Play Tech Center
(#10)
Other Notable
Investors
Crypto Currency Partners (#9), FundersClub (#9), Bitmain (#5)
Debt Investors Bain Capital (#1), Fortress Investment (#1), Seeder Fund (#1)
Most Active InvestorsRecent Investments
368
588
281 299
949
651
2013 2014 2015 2016 2017 2018*
Y-o-Y # of Companies Founded 47 125 88 63 73 117
$2.4B
$295M
$142M
$53.7M
$52.9M
US
Europe
Israel
Canada
South
Korea
$ Funding
$1.4B
$93M
$284M $412M $374M $440M
$3.3B
156
2013 2014 2015 2016 2017 2018*
$ Funding $ Funding Predictede
# Rounds # Rounds Predicted

Summary of exit outlook in Cryptocurrencies
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Andreessen
Horowitz
2
Earn.com (2017, San Francisco, $121M)
Pantera Capital 2
Baidu 2
Poloniex (2013, Whitefish)
Blockchain Capital 2
Digital Currency
Group
2
Apr 2018 Earn.com Acq by Coinbase for $120M
Apr 2018 Coincheck Acq by Monex Group, Inc. for $33.9M
Feb 2018 Poloniex Acq by Circle for $400M
Jan 2018 Node40 Acq by HashChain for $8M
Sep 2017 Korbit Acq by NEXON for $80M
Jul 2013 Satoshi Dice for $11.5M
Apr 2008 CTB Acq by Symantec for $53M
Cryptocurrencies > Feed Summary > Exit Outlook Summary
Coinbase 4
Earn.com (Apr 2018, $120M), Paradex (May 2018), Cipher
Browser (Apr 2018)
Circle 1 Poloniex (Feb 2018, $400M)
Recent IPOs Top Acquisitions
Kabuni Jan 2012
Blockchain based platform for 3D printing…
IPO MCap: $5.7M Current MCap: -
Byte Power Group Nov 1988
ASX Listed Cryptocurrency Exchange
IPO MCap: $1.4M Current MCap: -
Exodus
Multi-cryptocurrencies wallet
IPO MCap: - Current MCap: -
HIVE Blockchain Technologies
Crypto-mining solutions
HashChain Dec 2017
Cryptocurrency mining services provider
Blockchain Intelligence Group Dec 2017
Bitcoin Blockchain Search & Big Data Anal…
Netcoins Dec 2014
Provides virtual Bitcoin ATM app.
IPO MCap: $528M Current MCap: -
Marathon Patent Group Feb 2012
Cryptocurrency mining company
IPO MCap: - Current MCap: $24.1M

For any Feedback and Query reach out to MyAnalyst@tracxn.comFunding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
FACTSHEET
Feed Report - Cryptocurrencies - Sep 20187 Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.
Overview
Companies 3405
Funded 525 Series A+ 107
Funding $2.6B Last 2 yrs $2.5B
Most Active Investors
Seed Digital Currency Group (17)
Series A/B Digital Currency Group (17)
Series C+ Battery Ventures (1)
Others Crypto Currency Partners (9)
Incubators Boost VC (38)
Top Cities
Bay Area 248 Cos $1.5B
NYC 134 Cos $279M
Feed in Numbers
Unicorns 2 Soonicorns 8
Minicorns 30 Editor Picks 247
Acquihired 1 Deadpooled 375
Top Companies
Coinbase (2012, San Francisco, $44M)
Ripple (2012, San Francisco, $91M)
Blockchain (2011, London, $70M)
Exits
IPOs 10 Netcoins, Kabuni
Acquisitions 58 Poloniex, Earn.com
Top Acquirers Coinbase, Circle
Marketmap: Cryptocurrencies
APPLICATIONS
TRADING & INVESTMENTS
PAYMENTS
LENDING
CRYPTO SECURITY
GATEWAYS
MONEY TRANSFER
TOKENS
PROTOCOL TOKENS
PAYMENT TOKENS
WALLET
MINING
INFRA & SERVICES
ACCESS TOKENS
DIVIDEND TOKENS
OFFLINE
HARDWARE
APP-BASED
DATA & CONTENT PROVIDER
EXCHANGES
TRADING PLATFORM
DATA PROVIDER
INVESTMENT MANAGEMENT
Cryptocurrencies > Feed Summary > BlueBox

Key Sub Sectors in Cryptocurrencies Sector
Summary of Key Markets
8
Other Notable Markets
# Cos on
Platform
Last 2 Years
$ Invested # Round
Financial Services > Trading & Investments
> Enablers >
Market Data
56 $20.6M 3
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Tokens >
Access Tokens 652 $803M 56
Tokens > Payment Tokens >
P2P 199 $287M 16
>
Trading Platforms
203 $191M 19
>
Exchanges
486 $173M 19
Wallet > Offline >
App-based 50 $227M 7
Financial Services > Money Transfer >
Online 39 $192M 7
Tokens >
Protocol Tokens 34 $305M 6
Tokens >
Asset-backed 67 $140M 8
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Financial Services
Companies which offer various financial services using
Cryptocurrencies
1433 232 $1.2B
Tokens
The underlying asset in a blockchain which
determines the ownership and transfer of value
1115 147 $689M
Wallet
Companies that provide storage facilities for
cryptocurrencies
233 53 $407M
Mining
Companies that provide hardware & software
solutions for Bitcoin Mining
198 38 $224M
Enablers
Companies offering value-added services in the
Cyrptocurrency ecosystem
315 37 $37.8M
Applications
Market applications built on crypto
110 17 $26.5M
Cryptocurrencies > Feed Summary > Summary of Key Markets

List of Notable Companies in Cryptocurrencies
Notable Companies in the Sector
9
Note: *(Founded Year, Location, Total Funding)
Cryptocurrencies > Feed Summary > Notable Companies in the Sector
Public
Netcoins
(2014, Vancouver)*
Byte Power Group
(1989, Newstead)
Blockchain Intelligence
Group
(2015, Vancouver, $100k)
Marathon Patent Group
(2013, Las Vegas)
Vogogo
(2008, Calgary)
HIVE Blockchain
Technologies
(2017, Vancouver)
HashChain
(2017, White Rock)
Bitcoin Group
(2014, Melbourne)
Exodus
(2016, Lincoln)
Public
Kabuni
(2015, Vancouver)
Acquired
Poloniex
(2013, Whitefish)
Earn.com
(2017, San Francisco, $121M)
Unicorns
Circle
(2013, Boston, $246M)
Coinbase

List of Notable Companies by Market in Cryptocurrencies
Notable Companies by Market (1/4)
11
Cryptocurrencies > Feed Summary > Notable Companies by Market
Mining
Suite
Bitcoin Group (2014, Melbourne)
Bitcoin mining company.
Stage: Public
Infrastructure
Bitfury (2012, San Francisco, $95M)
Provider for Bitcoin mining hardware
Soonicorn. Stage: Series C
Credit China Holdings, Investment Fund, Itech
Capital and 7 Other Investors
Marathon Patent Group (2013, Las Vegas)
Editor's Pick. Stage: Public
HIVE Blockchain Technologies (2017,
Vancouver)
Stage: Public
GMP Securities, Eventus Capital, Haywood and 2
Other Investors
HashChain (2017, White Rock)
Stage: Public
Services
Vogogo (2008, Calgary)
Cryptocurrency mining solutions
Editor's Pick. Stage: Public
Canaccord Genuity, Beacon Securities

12
Tokens
Payment Tokens
Open source payment protocol for cross border
money transfer.
Soonicorn. Stage: Series B
Standard Chartered, SBI Holdings, Digital Ventures
and 28 Other Investors
Access Tokens
Decentralized network for reward-based task
completion
Stage: Acquired
RRE Ventures, Andreessen Horowitz, Data
Collective and 7 Other Investors
Kabuni (2015, Vancouver)
Blockchain based platform for 3D printing
Stage: Public
Wallet
Offline
Xapo (2012, Palo Alto, $40M)
Cold Storage Vault & Bitcoin Wallet
Soonicorn. Stage: Series A
Greylock Partners, Index Ventures, Emergent
Capital Partners and 10 Other Investors
Exodus (2016, Lincoln)
Stage: Public
KAAJ Ventures

13
Financial Services
Payments
Bitpay (2011, Atlanta, $72.5M)
Bitcoin payment Gateway
Aquiline Capital Partners, Menlo Ventures, Point
Nine Capital and 18 Other Investors
Money Transfer
Digital currency wallet for global money transfers
Unicorn. Stage: Series E
Bitmain, Breyer Capital, General Catalyst Partners
Multiple currency reserve and exchange platform.
Greg Kidd, Hard Yaka
BitPesa (2013, Nairobi, $10M)
Bitcoin based remittance service provider.
Greycroft Partners, Plug and Play Tech Center,
Draper Associates and 10 Other Investors
Trading & Investments
Digital currency exchange & wallet provider
Unicorn. Stage: Series E
IVP, Spark Capital, Greylock Partners and 37 Other
Investors
Bitflyer (2014, Tokyo, $33.8M)
Bitcoin exchange in Japan
SMBC LEASING AND FINANCE, INC., Mizuho
Financial Group and 13 Other Investors
itBit (2012, Tower, $28.3M)
Provider of Trading & Settlement platforms
RRE Ventures, Liberty City Ventures, Canaan
Partners and 3 Other Investors
US-based cryptocurrency exchange.
Editor's Pick. Stage: Acquired
Goldman Sachs, Baidu

14
Financial Services
Trading & Investments
Byte Power Group (1989, Newstead)
Stage: Public
Netcoins (2014, Vancouver)
Stage: Public
New Avenue Capital
Enablers
Security
Blockchain Intelligence Group (2015,
Vancouver, $100k)
Bitcoin Blockchain Search & Big Data Analytics
Stage: Public
Pyfera Growth Capital

List of Notable Companies in Cryptocurrencies in China
Notable Companies in the Sector in China
15
Cryptocurrencies > Feed Summary > Notable Companies in the Sector in China
Acquired
Canaan
(2013, Beijing, $43.5M)
Unicorns
Bitmain
(2013, Beijing, $910M)
Soonicorns
Qingsongchou
(2014, Beijing, $48M)

Recent News in Cryptocurrencies Sector
Recent News
16
Cryptocurrencies > Feed Summary > Recent News
Sep 2018 Coinbase Explores a Crypto ETF with BlackRock, Finance Magnates
Sep 2018 Brits are ready for Bitcoin, but trust issues remain, Luno, 0
Sep 2018 First phase of blockchain pilot launched on Zilliqa platform, Adgully
Sep 2018
Crypto Exchange ShapeShift Sees Criticism for Mandating KYC
Memberships, CryptoScoop
Sep 2018
Southeast Asia’s Biggest Crypto Exchange Adds 4 Million Users in
2018, CryptoScoop
Sep 2018
Coinbase Pro Announces Trading Pairs with British Pounds for UK
Customers, CryptoScoop
Sep 2018
Crypto Exchange Kraken Denies Rumor of Office Closure, Security
Breach, CryptoScoop
Sep 2018
Winklevoss Brothers Win Patent for Crypto Key Storage System,
CryptoScoop
Sep 2018
Eligma reveals the future of shopping with its MVP: AI shopping
assistant Elly to save time and money, Fintech
Sep 2018
Australian Startup to Enable Users Invest in Crypto with Spare
Change, CryptoScoop
Sep 2018
Dubai’s Blockchain Technology Capital launches ICO auditing
services, Tahawul Tech
Sep 2018
Coinbase, Bain Capital Invest in Blockchain Developer Spacemesh,
CryptoScoop
Sep 2018
Blackmoon Launches Prime Meridian Capital Token, Finance
Magnates
Key Recent News Key Recent News
Sep 2018
Coinbase Expands UK Offering With Four GBP Altcoin Pairs,
CryptoScoop
Sep 2018
Coinbase is exploring a bitcoin ETF, and it has sought help from $6
trillion Wall Street giant BlackRock, CryptoScoop
Sep 2018
Circle Taps Former US Homeland Security Official as New Legal
Chief, CoinDesk
Sep 2018 IdentityMind Debuts RegTech Webstore, PYMNTS
Sep 2018
Kraken CEO Confirms Firing Spree in Halifax, 57 Staff Laid Off,
Finance Magnates
Sep 2018
Polymath And Monarch Wallet Partner to Boost Adoption of
Security Tokens, PRWeb
Sep 2018 Grayscale Investments Launches Zen Investment Trust, PR Newswire
Sep 2018
Cointopia Launches Marketplace Connecting Blockchain Companies
with Service Providers, Coinjournal
Sep 2018
Data Compliance Blockchain Company Barrel Protocol Raises $4
Million, CTech
Sep 2018
Global Blockchain Company AlphaPoint Appoints Kevin Held to
CFO, Citybizlist
Sep 2018
CoinGate offers 4000 merchants to accept Lightning Payments,
Crypto-News
Sep 2018
Arizen, parent company of Coinhouse, to be the first French
cryptoasset platform getting a financial investment advisor license,
Fintech

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
17
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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Investments ($M) and number of rounds in Cryptocurrencies; 2011-2018
Global Funding Trends (1/2)
19
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Cryptocurrencies > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 16% # of Rounds167% $ Funding
70% # of Rounds
16% $ Funding
$1.4B
$1M $1M $93M
$284M
$412M $374M $440M
$3.3B
0
20
40
60
80
100
120
140
160
180
$0k
$500M
$1.B
$1.5B
$2.B
$2.5B
$3.B
$3.5B
2011 2012 2013 2014 2015 2016 2017 2018*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds

3
4 38 96 66 32 36 71
8 29 19
29 35 41
1 3 2 2 5
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
3
117
Total # of Rounds
$1M $1M
$27M
$47M $151M $22M $51M $177M
$66M
$237M
$135M
$282M
$251M
$568M
$150K $125M $71M $138M $654M
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
20
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Cryptocurrencies; 2011-2018
Cryptocurrencies > Investment Trends > Global Funding Trends
6 36
91
49
24
40
81
327
$0.4M
$2.3M
$0.0M
$0.5M
$1.0M
$1.5M
$2.0M
$2.5M
$3.0M
$3.5M
$4.0M
$4.5M
$5.0M
0
50
100
150
200
250
300
350
2012 2013 2014 2015 2016 2017 2018 YTD Total
Entrants in Funding Club Avg. Ticket Size
$0.4M $1.6M $1.6M $0.7M $4.5M $2.8M $4.3M $2.3M
$1.2B
$0K $0K $25M $120M
$314M $234M $263M
$2.7B
20
0
5
10
15
20
25
0
500000000
1E+09
1.5E+09
2E+09
2.5E+09
3E+09
2011 2012 2013 2014 2015 2016 2017 2018 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
- - 1 5 6 5 6 15
$1M
$1.4B
Total $ Invested

Cryptocurrencies > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Cryptocurrencies
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 1.5B 144
New York City 279M 52
Boston 264M 11
Hoboken 133M 2
Tel Aviv 122M 13
London 112M 38
Paris 86.5M 5
Atlanta 78.6M 12
Seoul 52.9M 9
Toronto 39M 10
Total Funding
301
106
17
21
9
11
23
4
# Rounds
$2.4B
$295M
$142M
$53.7M
$52.9M
$44.9M
$25.6M
$24.5M
US
Europe
Israel
Canada
South Korea
Japan
SEA
Barbados
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.4 $0.4
$0.9 $0.7
$3.0
$1.0
$2.3
2011 2012 2013 2014 2015 2016 2017
$0.0 $0.0
$5.9
$10.0 $9.4 $9.3
$4.9
$0.0 $0.0
$25.0
$9.2 $10.2
$20.7 $19.7
$0.0 $0.0 $0.2 $0.0
$62.5
$35.3
$69.0
Cryptocurrencies > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Cryptocurrencies; 2011-2017
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$173* $116M
$428K $72M
$1.5M $133M
$150K $217M
$67.5M
$17.5M
$5M
$540K
Series C+
Series B
Series A
Seed
Stage

Note: 297 companies with undisclosed funding amount are not included
23
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
104
111
35
8
5
No. of Companies
Cryptocurrencies > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Cryptocurrencies; as of Sep 2018
Distribution of companies by Funding Range
$33M
$360M
$743M
$613M
$872M
$ Investment

Stage No. of Companies
Funding
Funnel
100%
15%
3%
1%
0%
24
Note: Numbers in the brackets show the count of companies
Time to raise
next round
7
31
107
525
3405
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
15% 1%
(22)
0%
(12)
0%
(1)
11%
(375)
74%
(2504)
20% 4%
(21)
2%
(11)
0%
(1)
11%
(60)
68%
(357)
29% 9%
(10)
- - 6%
(6)
65%
(70)
23% 23%
(7)
- - 3%
(1)
74%
(23)
- 43%
(3)
- - - 43%
(3)
Cryptocurrencies > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Cryptocurrencies
Funding Funnel
13 Months
13 Months
13 Months
Investment backedBootstrapped
8
2
28
9
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Cryptocurrencies > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Cryptocurrencies; Sep 2016-Sep 2018
Notable Investments in last 24 months (1/4)
LATE STAGE
$217M - Series E Jun 2018
$177M - Series C May 2018
Multi-signature security for cryptocurrency
payments
$140M - PE Jan 2018
BlockTower (2017, New York City, $140M)
Cryptocurrency Investment Firm
$110M - Series E May 2018
Digital currency wallet for global money transfers
Bitmain, Breyer Capital, General Catalyst Partners,
Accel Partners, Blockchain Capital, Digital Currency
Group, IDG Capital, Pantera Capital, Tusk Ventures
$108M - Series D Aug 2017
IVP, Spark Capital, Greylock Partners, Battery
Ventures, Section 32, Draper Associates
LATE STAGE
$30M - Series C Jan 2017
Provider for Bitcoin mining hardware
Credit China Holdings
$10M - Series C Feb 2018
Identity Mind Global (2011, Palo Alto, $11.8M)
Risk Management and AML for eCommerce & Virtual
Currencies
Benhamou Global Ventures, Eastern Link Capital,
Hanna Capital, Overstock
EARLY STAGE
$133M - Series B Apr 2018
Stable Cryptocurrency
Bain Capital Ventures, Lightspeed Venture Partners,
Foundation Capital, Andreessen Horowitz, Wing
Venture Capital, NFX, Valor Capital Group,
ZhenFund, Ceyuan Investment Consulting, Digital
Currency Group, Kevin Warsh, Stan Druckenmiller,
GV, Sky9 Capital, INBlockchain
$74.6M - Series B Jan 2018
Ledger (2014, Paris, $83.1M)
The Bitcoin security company
Draper Esprit, Draper Venture Network, Draper
Associates, Draper Dragon, Boost VC, FirstMark,
Cathay Innovation, Korelya Capital, CapHorn Invest,
Digital Currency Group
$55M - Series B Sep 2016
Open source payment protocol for cross border
money transfer.
Standard Chartered, SBI Holdings, Digital Ventures

EARLY STAGE
$52.5M - Series B Jul 2018
Crypto-assets collateralized fiat loans
ConsenSys, PJC, Galaxy Venture Capital
$42.5M - Series B Dec 2017
Multi-signature security for cryptocurrency
payments
Valor Equity Partners, David Sacks, Bill Lee, DRW
Venture Capital
$40M - Series B Apr 2018
Bitpay (2011, Atlanta, $72.5M)
Bitcoin payment Gateway
Aquiline Capital Partners, Menlo Ventures, Point
Nine Capital, Delta-v Capital, Alvin Liu, Nimble
Ventures, G Squared
EARLY STAGE
$40M - Series B Jun 2017
Blockchain (2011, London, $70M)
Bitcoin wallet service and blockchain navigation
Lakestar, GV, Nokota Management LLP, Digital
Currency Group, Lightspeed Venture Partners,
Mosaic Ventures, Prudence Holdings, Virgin, Richard
Branson
$35M - Series B Mar 2018
VideoCoin (2016, San Jose, $40M)
Decentralized video distribution platform
Science, Token Stack
$30M - Series B Feb 2018
Coinsquare (2014, Toronto, $38.3M)
Cryptocurrency exchange
Canaccord Genuity
$28.5M - Series A Apr 2018
Origin Protocol (2017, San Francisco, $28.5M)
Blockchain platform for building decentralized
marketplaces
EARLY STAGE
$22.7M - Series A Aug 2018
SFOX (2014, San Francisco, $22.8M)
Online Bitcoin broker
Social Capital, Y Combinator, Khosla Ventures,
Upside Partnership, Danhua Capital, Blockchain
Capital, Digital Currency Group, SV Angel, Nathan
Blecharczyk, Mark Britto
$22.4M - Series B Aug 2017
Giga Watt (2017, East Wenatchee, $22.4M)
Full-scale mining services provider
$20M - Series A Jun 2018
TrustToken (2017, San Francisco, $20M)
Physical asset tokenization
Jump Trading, Founders Fund, Foundation Capital,
ZhenFund, StartX, BlockTower, Danhua Capital,
Distributed Global, Signia Venture Partners, GGV
Capital
TradeBlock (2013, New York City, $20.7M)
Online cryptocurrency data and research

EARLY STAGE
$16M - Series B Oct 2017
Abra (2014, Mountain View, $30M)
Fiat money remittance based on bitcoin
HCM International, Arbor Ventures, Jungle Ventures,
Lerer Hippeau Ventures, RRE Ventures, IGNIA,
American Express Ventures
Colu (2014, Tel Aviv, $26.6M)
Decentralized payment system for local
communities
IDB
$10.4M - Series A Mar 2017
ShapeShift (2014, San Francisco, $12.5M)
Instant inter crypto currency conversion
Earlybird Venture Capital, Access Venture Partners,
Pantera Capital, Lakestar, Blockchain Capital,
FundersClub, Digital Currency Group, Erik Voorhees
EARLY STAGE
$5.8M - Series A Dec 2016
Wyre (2013, San Francisco, $5.8M)
International money transfers using blockchain
Amway Southern Capital, Digital Currency Group,
Draper Associates, Baofoo, Seabed VC, Boost VC,
JiuFu
$5M - Series A Jan 2018
Alphabit
$5M - Series A May 2017
Coins.ph (2013, Manila, $10M)
Bitcoin wallet for transactions in Philippines
Naspers
$5M - Series A Oct 2016
Coins.ph (2013, Manila, $10M)
Bitcoin wallet for transactions in Philippines
Accion, Innovation Endeavors, Pantera Capital,
Digital Currency Group, Wavemaker Partners,
Global Brain, Beenext, Rebright Partners, Kickstart
Ventures, IdeaSpace Foundation
EARLY STAGE
$4M - Series A Dec 2017
Elliptic (2014, London, $11M)
Bitcoin's blockchain intelligence & risk management
company
$2.5M - Series A Jan 2017
Draper Associates, Greycroft Partners, Blockchain
Capital, BnkToTheFuture, Digital Currency Group,
Pantera Capital, Zephyr Management, Colle Capital,
Future Perfect Ventures
$1.8M - Series B Feb 2017
Bitflyer (2014, Tokyo, $33.8M)
Bitcoin exchange in Japan
SMBC LEASING AND FINANCE, INC., Mizuho
Financial Group, The Dai-ichi Life Insurance
Company, Limited
$1.4M - Series A Jan 2017
Bitstamp (2011, London, $11.4M)
European Union bitcoin exchange

EARLY STAGE
Series B Jan 2017
Abra (2014, Mountain View, $30M)
Fiat money remittance based on bitcoin
IGNIA
Series A Aug 2017
Greycroft Partners, Plug and Play Tech Center
SEED STAGE
$57.5M - Angel Jan 2018
Multiple currency reserve and exchange platform.
Greg Kidd
$32M - Seed Aug 2018
Terra (2018, Seoul, $32M)
Decentralized financial infrastructure for payments
Binance, OKEX, Huobi, Dunamu, TransLink Capital,
Polychain, Hashed, FBG Capital
$20M - Seed Jun 2017
TrustToken (2017, San Francisco, $20M)
Physical asset tokenization
FJ Labs
$2.3M - Seed Jun 2018
$1.6M - Seed Feb 2018
Social Finance, Purple Arch Ventures, Lumenary,
PJC, ConsenSys Ventures
SEED STAGE
$1.2M - Angel Feb 2017
Bitbond (2013, Berlin, $2.1M)
P2P lending platform for small businesses
Sekip Can Gokalp, Janis Zech, Andreas Bodczek,
Alexander Graubner Muller
$650k - Seed Dec 2017
Seed May 2017
Bitbond (2013, Berlin, $2.1M)
P2P lending platform for small businesses
Obotritia Capital
Seed Jun 2017
Paycase (2014, Toronto)
Universal banking platform that leverages
blockchain technology
Two Small Fish Ventures

Cryptocurrencies > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$560M - Series C Aug 2018
Bitmain (2013, Beijing, $910M)
Bitcoin miner manufacturer specializing in ASICs
$28M - Series C Jul 2017
Qingsongchou (2014, Beijing, $48M)
Crowdfunding based platform to support
entrepreneurs.
DT Capital Partners, Tongdaoo Capital, Tencent, IDG
Capital
EARLY STAGE
$300M - Series B Jul 2018
Sequoia Capital, Coatue Management, EDBI
$50M - Series A Sep 2017
Sequoia Capital, IDG Capital, ING
$43.5M - Series A May 2017
Canaan (2013, Beijing, $43.5M)
Blockchain servers and ASIC microprocessor
manufacturers
Jump Investment Park, Jinjiang Group, Tunlan
Investment

Most Active Investors (VC, PE) by Stage in Cryptocurrencies; Last 5 years (Sep 2013-Sep 2018)
Most Active VC & PE Investors
30
Cryptocurrencies > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Digital Currency Group (17 Investments)
BTCJam, Bitso, BitPesa
1
Pantera Capital (8 Investments)
Earn.com, Abra, BitPesa
2
Blockchain Capital (8 Investments)
BitPesa, Bitwise Asset Management, Civic Technologies
3
RRE Ventures(5 Investments)
itBit, Earn.com, Abra
4
Future Perfect Ventures(4 Investments)
BitPesa, Case Wallet, Strix Leviathan
5
Blackbird Ventures(4 Investments)
Dogecoin, CoinJar, HoneyLedger
6
SV Angel (3 Investments)
Helium, LedgerX, Tinkercoin
7
FirstMark(3 Investments)
Helium, Carbon, Coinapult
8
Liberty City Ventures(3 Investments)
itBit, SolidX Partners, LibraTax
9
KR1(3 Investments)
SatoshiPay, Ethereum, Golem
10
EARLY STAGE
Digital Currency Group (17 Investments)
Ripple, Blockchain, Ledger
1
Pantera Capital(8 Investments)
Xapo, Circle, Bitstamp
2
Blockchain Capital (6 Investments)
Ripple, Abra, SFOX
3
Andreessen Horowitz (5 Investments)
Coinbase, Ripple, Basis
4
Lightspeed Venture Partners (4
Investments)
Ripple, Blockchain, Basis
5
Danhua Capital (4 Investments)
TrustToken, SFOX, Spacemesh
6
GV (4 Investments)
Ripple, Helium, Blockchain
7
Draper Associates (3 Investments)
Ledger, BitPesa, Ripio.com
8
Foundation Capital (3 Investments)
Basis, BTCJam, TrustToken
9
IDG Capital(2 Investments)
Ripple, Koinify
10
LATE STAGE
IDG Capital
Circle
1
Digital Currency Group
Circle
2
Reinventure Group
Coinbase
3
Blockchain Capital
Circle
4
Draper Associates
Coinbase
5
Spark Capital
Coinbase
6
DFJ
Coinbase
7
Greylock Partners
Coinbase
8
Mitsubishi UFJ Capital
Coinbase
9
Fenway Summer Ventures
Circle
10

Cryptocurrencies > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Cryptocurrencies; Last 5 years (Sep 2013-Sep 2018)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
Boost VC(38 Investments)
Coinbase, Ledger, Abra
1
500 Startups(13 Investments)
BTCJam, GoCoin, ChangeTip
2
Plug and Play Tech Center(10
Investments)
SFOX, BitPesa, ChangeTip
3
Y Combinator(8 Investments)
TradeBlock, SFOX, Buttercoin
4
Science(6 Investments)
VideoCoin, SpringRole, ICO Watchdog
5
Techstars(6 Investments)
Safello, Glidera, RealBlocks
6
Fifth Era(4 Investments)
Bitwise Asset Management, Zcash Electric Coin Company,
Grayscale
7
NFX(4 Investments)
Basis, TigerEx, Wemark
8
Startupbootcamp(4 Investments)
OneBit, Zilra, Lawnmower
9
FasterCapital(2 Investments)
JetSpecie, AlfaToken
10
OTHER NOTABLE INVESTORS
Crypto Currency Partners(9 Investments)
Bitfury, Kraken, Gem
1
FundersClub(9 Investments)
BTCJam, ShapeShift, Bitso
2
Bitmain(5 Investments)
Circle, Yours, PopulStay
3
BnkToTheFuture(5 Investments)
Bitso, BitPesa, Unocoin
4
Coinsilium(5 Investments)
SatoshiPay, Magnr, Bundle Network
5
Polychain(5 Investments)
Tezos, Terra, Compound
6
SBI Holdings(5 Investments)
Ripple, Kraken, Bitflyer
7
Coinbase(3 Investments)
Compound, OpenSea, Spacemesh
8
FBG Capital(3 Investments)
Terra, Lambda, Crescent Crypto Asset Management
9
NXTP Labs(3 Investments)
Ripio.com, Latincoin, BTCTrip
10
DEBT INVESTORS
Bain Capital
Spacemesh
1
Fortress Investment
Xapo
2
Seeder Fund
Keyrock
3

Cryptocurrencies > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/3)

Cryptocurrencies > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
36
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Market Deep Dive

Some more Sector Reports you might want to check out
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Aug 2018
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Jul 2018

Feed Report - Cryptocurrencies - Sep 201838 Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.
Marketmap: Cryptocurrencies Cryptocurrencies > Market Details > BlueBox

Key Sub Sectors
39
Key Sub Sectors in Cryptocurrencies
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Financial Services
Companies which offer various financial services using Cryptocurrencies
Bitnet (2014, San Francisco, Acquired)
1433 232 $1.2B
Tokens
The underlying asset in a blockchain which determines the ownership and transfer of value
Earn.com (2017, San Francisco, Acquired)
1115 147 $689M
Wallet
Companies that provide storage facilities for cryptocurrencies
Luno (2013, Cape Town, Acquired)
233 53 $407M
Mining
Companies that provide hardware & software solutions for Bitcoin Mining
Spondoolies Tech (2013, Tel Aviv,
Acquired)
198 38 $224M
Enablers
Companies offering value-added services in the Cyrptocurrency ecosystem
Elliptic (2014, London, Acquired)
Identity Mind Global (2011, Palo Alto,
$11.8M)
315 37 $37.8M
Applications
Market applications built on crypto
Satoshi Dice (2012, New York City,
Acquired)
Zeex (2017, Tel Aviv, $11.8M)
110 17 $26.5M
Cryptocurrencies > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/7)
40
Cryptocurrencies > Market Details > Detailed Sector Taxonomy

41

42

43

44

45

46

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(-)
Tokens > Access Tokens
Tokens which are used to access the services of the parent Blockchain
(Companies covered 652 | Funded 82 | Total Funding $371M)
$803M
(+$590M)
56
(+43)
Sirin Labs
(2013, Tel Aviv, $72M)
2
(+6)
Tokens > Payment Tokens > P2P
Payment tokens used for P2P transfers
$287M
(+$283M)
16
(+11)
Basis
(2017, Hoboken, $133M)
3
(+1)
Financial Services > Trading & Investments > Trading Platforms
Platforms which enable trading of cryptocurrencies
$191M
(+$148M)
19
(+4)
NAGA
(2015, Hamburg, $14.2M)
4
(-2)
Financial Services > Trading & Investments > Exchanges
Platforms which enable buying and selling of cryptocurrencies
$173M
(+$108M)
19
(-9)
LIQUID
(2017, Singapore)
5
(+4)
Wallet > Offline > App-based
Desktop client or Mobile app based offline wallet providers
$227M
(+$223M)
7
(+3)
BitGo
6
(-3)
Financial Services > Money Transfer > Online
Cryptocurrency-based online money transfer operators
$192M
(+$55.1M)
7
(-3)
Circle
(2013, Boston, $246M)
7
(+3)
Tokens > Protocol Tokens
Tokens of platforms which allow developers to build Blockchain platforms
(Companies covered 34 | Funded 9 | Total Funding $16.5M)
$305M
(+$289M)
6
(+4)
Tezos
(2014, Zug, $10M)
47
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/3)
Top Markets by Funding in Cryptocurrencies in last 2 years (September 2016 - August 2018)
Cryptocurrencies > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Tokens > Payment Tokens > P2P
Payment tokens used for P2P transfers
(Companies created 199 | Funded 26 | Total Funding $154M )
1 Basis (2017, Hoboken, $133M)
2
Financial Services > Trading & Investments > Trading Platforms
Platforms which enable trading of cryptocurrencies
(Companies created 203 | Funded 40 | Total Funding $109M )
1 SFOX (2014, San Francisco, $22.8M)
3
Tokens > Asset-backed
Tokens which represent physical assets
(Companies created 67 | Funded 11 | Total Funding $23.8M )
1 TrustToken (2017, San Francisco, $20M)
4
Applications > E-commerce > Crypto Assets
Online retail and marketplace for crypto tokens
(Companies created 4 | Funded 2 | Total Funding $9.1M )
1 Rare Bits (2017, San Francisco, $7M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
50
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (September 2016 - August 2018)
Cryptocurrencies > Market Details > Top Markets of Early Stage Investors

Rank Market
Last 2 Years
# of Comp Founded $ Invested # Round Top Funded Company
1
Financial Services > Trading & Investments > Enablers > Market
Data
Platforms which provide data around the price movement of the currencies
23 $20.6M
(+$20.6M)
3
(+3)
TradeBlock
(2013, New York City,
$20.7M)
2
Tokens > Dividend Tokens
Tokens which regulate the share of stake on the parent organization
51 $5.6M
(+$5.6M)
3
(+3)
Portion
$5.5M)
3
Financial Services > Money Transfer
Cryptocurrency-based money transfer operators
14 $15.1M
(+$15.1M)
2
(+2)
Colu
(2014, Tel Aviv, $26.6M)
4
Mining > Services > Pool Mining
Companies that provide pooled mining
(Companies covered 48 | Funded 9 | Total Funding $122k)
19 $122k
(+$122k)
4
(+4)
Blockstake
$122k)
5
Financial Services > Trading & Investments > Enablers > Portfolio
Tracking & Management
Companies which allow users to track and manage their crypto-portfolio
19 $3.9M
(+$3.9M)
2
(+2)
Blockfolio
(2014, Los Angeles, $3M)
51
Other Notable Markets with high Entrepreneurial Activity in Cryptocurrencies in last 2 years (September 2016 - August 2018)
Cryptocurrencies > Market Details > Other Notable Markets

Incubators Science (#2), FasterCapital (#2)
Seed Pantera Capital (#2), Digital Currency Group (#2)
Series A/B KR1 (#2), Bitmain (#2)
Series C+
Earn.com Apr - 2018
Acq by Coinbase for $120M
$3M - Series A
Share Internet Data (2017, Gibraltar,
$3M)
Seed
Lambda (2017, Singapore)
$1.1M - Seed
impak Finance (2016, Quebec City,
$1.1M)
Seed
Lambda (2017, Singapore)
$3M - Seed
Dbrain (2017, Moscow, $5.5M)
Seed
MXC Foundation (2018, Berlin)
$2.3M - Series A
PopulStay (2018, Singapore, $2.3M)
Seed
Nebula Network (2017, Tallinn)
Seed
Proof (2018, New York City)
Series A
Swytch (2017, Cambridge)
Seed
Global Risk Exchange (2018, Tokyo)
Mar 2018
Revolutionary New Project Value Ticket Coin Launches ICO
for Blockchain Payment Solution, PR Newswire
Feb 2018
Bluzelle Announces First Wave of Blockchain Collaborations,
Bitsonline
Sep 2017
Viuly Pays Users to Watch Videos, Uses Blockchain to
Revolutionize Online Content, CryptoCoinsNews
Feb 2018
Blockchain start up Zonafide is on a mission to defeat
identity theft, AltFi
Jan 2018
GreenBank Director Rares Pateanu Resigns to Focus on XGC
Software, FSCwire
Feb 2018
Blockchain Trust Accelerator, Emercoin Partner To Advance
Social Impact Projects, BlockTribune
Sep 2017
Eloplay Launches ICO to Build Decentralized Platform for
Gamers and Brands , Coinspeaker
Aug 2014
Storj Crowdsale Ends, Users to be Rewarded | Cointelegraph,
CoinTelegraph
Jan 2018 SnagRide launches cryptocurrency presale, SmartCitiesWorld
Jul 2018
Decentralized Platform Nebulas Introduces Ranking
Algorithm to Quantify Blockchain Data, CryptoScoop
Feb 2016
Inmusik’s move to San Francisco hits right note as it raises
$7m, Silicon Republic
Aug 2014
Storj closes Crowdsale, raises 910 BTC, 9% of target |
Finance Magnates, Finance Magnates
Dec 2017
First-of-Its-Kind Affiliate Marketing Platform PM7 Leverages
Blockchain Technology to Disrupt the World of Advertising,
CoinFox
News
2
-
16
82
652
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Tokens > Access Tokens: Market Factsheet
52
Exits
Recent InvestmentsTokens which are used to access
the services of the parent
Blockchain
Earn.com
Sirin Labs
(2013, Tel Aviv, $72M)
VideoCoin
(2016, San Jose, $40M)
Origin Protocol
Ankr Network
(2017, Berkeley, $15M)
Top Companies
#1 Top Markets of Investment Activity
Cryptocurrencies > Market Details > Market: Access Tokens
Companies Created 652 | Funded 82 | Total Funding $371M
Market: Access Tokens
0
20
40
$0k
$100M
$200M
$300M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds

Tokens > Access Tokens: Top Companies
Market: Access Tokens (1/4)
Analyst’s Pick
Sirin Labs (2013, Tel Aviv, $72M)
Blockchain-powered consumer electronic devices
Editor's Pick. Stage: Series A
Singulariteam, Renren, AID Partners
Minicorn. Stage: Series B
Science, Token Stack, Alphabit, 6Degrees Ventures
Origin Protocol (2017, San Francisco, $28.5M)
Blockchain platform for building decentralized
marketplaces
Pantera Capital, 122 West Ventures
Ankr Network (2017, Berkeley, $15M)
Blockchain-based platform for distributed cloud
computing
Minicorn. Stage: Funded
Aston (2017, Seoul, $9M)
Decentralized document authentication platform
HybridBlock
Analyst’s Pick
Storj (2014, Atlanta, $5.5M)
Distributed, shared and incentivised Cloud Storage
Editor's Pick. Stage: Seed
Digital Ventures, Vestor.In Partners, Wavemaker
Genesis and 2 Other Investors
Augur (2014, San Francisco, $5.1M)
Open-Source, decentralized prediction market
platform.
KR1, Pantera Capital, Wavemaker Genesis
FRESCO (2017, New York City, $5M)
Art distribution on blockchain
Feng Han
Civic Technologies (2016, Palo Alto, $2.8M)
Personal Identity Protection services on blockchain
Social Leverage, Pantera Capital, Digital Currency
Group and 12 Other Investors
Analyst’s Pick
Bluzelle (2014, Singapore, $2.5M)
Decentralized data storage solution
Global Brain, True Global Ventures, LUN Partners
PopulStay (2018, Singapore, $2.3M)
Decentralized booking and property management
platform
Bitmain, Jove Capital Inc.
Wings (2016, Zug, $1.7M)
DAO platform for project launch and crowdfunding
SpringRole (2014, Santa Monica, $1.3M)
Blockchain based job matching platform.
AlphaBlock, BlockWater, Wavemaker Genesis and 3
Other Investors
Nebulous (2015, Cambridge, $1.3M)
Blockchain-based storage platform
Raptor Group, Fenbushi Capital, First Star Ventures

Analyst’s Pick
aelf (2017, Singapore)
Decentralized cloud computing network
Editor's Pick. Stage: Funded
Draper Dragon, Node Capital
ARROUND (2017, Belize City)
Advertising solutions for augmented reality based
on blockchain
Editor's Pick. Stage: Unfunded
Beyond the Void (2016, Villeurbanne)
Real time strategy game powered by blockchain
Bloom Protocol (2017, Orlando)
Blockchain based credit scoring platform
Pantera Capital
ContentBox (2018, Palo Alto)
Decentralized digital content ecosystem
CryptoPolice (2017, Tallinn)
Blockchain based services for fraud prevention
Analyst’s Pick
DigiByte (2013, Austin)
Decentralized UTXO blockchain focused on
cybersecurity of digital payments & dApps
DYNO (2017, Bad Worishofen)
Blockchain-based marketplace for fitness and
metabolic data
Emercoin (2012, Kirkland)
Digital currency and blockchain services
Eventa ICO (2014, Cagliari)
Event ticketing and distribution solution through
blockchain
Fluzcoin (2016, New York City)
Cryptocurrency designed for retail shopping
FreeZone (2017, London)
Decentralized financial ecosystem for crypto
businesses
Analyst’s Pick
Geekzcode (2017, London)
Decentralized marketplace connecting app
developers with businesses
Global Crypto Offering Exchange (2017,
Singapore)
Crypto token exchange platform for celebrities
Global Risk Exchange (2018, Tokyo)
Decentralized risk exchange market
Huobi Global, James Gong, Bo Shen
Golem (2015, Poland)
Decentralized network to power cloud computing
KR1
GSC Platform (2018, Pibrac)
Supply chain platform for the aeronautical sector
Job.com (2001, Singapore)
Blockchain based online job board

Analyst’s Pick
Kambio (2018, London)
Blockchain based marketplace for tokenized asset-
backed securities
Kin Foundation (2017, Waterloo)
Blockchain based ecosystem of digital services
Blockchain Capital, Pantera Capital, Nobu Network
kinguin.io (2009, Warsaw)
Decentralized marketplace for gaming and related
services
Komodo (2016, Wakefield)
Decentralized platform for blockchain development
and ICO launch
Lili (2018, Paris)
Decentralized marketplace for savings
LoveBlock (2017, Singapore)
Verification service provider for dating platforms
Analyst’s Pick
MetaCert Protocol (2018, San Francisco)
Blockchain-based cyber security solution
MEXC Program (2016, Singapore)
Blockchain solutions for trauma management
Namahe (2010, Singapore)
Decentralized supply chain platform
Nebulas (2017, San Francisco)
Blockchain Search Engine
Opu (2016, Palo Alto)
App for AI based skin care analysis using
cryptocoins
PlayChip (2018, Sydney)
Blockchain-based online sports betting & gaming
ecosystem
Analyst’s Pick
PM7 (2015, Tallinn)
Decentralized platform for affiliate marketing
PumaPay (2017, Gibraltar)
Blockchain-based payment system
QYK Technologies (2017, Singapore)
Decentralized marketplace of bars
Revain (2017, Moscow)
Blockchain based customer review platform
SilkChain (2018, Singapore)
Decentralized autonomous organization
SlyRide (2017, Mahe)
In-vehicle ad campaign platform
Steem (1998, New York City)
Decentralized reward-based content platform

Analyst’s Pick
Sweatcoin (2018, London)
Cryptocurrency rewards for exercise
Swytch (2017, Cambridge)
Blockchain-based platform to track renewable
energy
Reflective Venture Partners
Synereo (2014, Tel Aviv)
Distributed and decentralized social network
NFX
Syscoin (2014, Brasilia)
Blockchain services for merchants via marketplace
TANZO (2017, Sofia)
Blockchain-based social marketplace software
solution for handmade products
Analyst’s Pick
TaTaTu (2009, California City)
Decentralized video-on-demand and social
entertainment platform
Polymath Ventures, BlockTower
Theta Token (2017, Cupertino)
Decentralized video delivery platform
DCM Ventures
Ticko (2018, Bertrange)
Blockchain-based airline ticketing and passenger
service system
Trimpo (2017, Moscow)
Decentralized e-commerce platform
Tutellus (2017, Madrid)
Collaborative education platform
Unboxed (2014, Kaunas)
Blockchain-based influencer marketing platform
Analyst’s Pick
VTUUR (2018, Tallinn)
On-demand, decentralized VR streaming platform
Woolf (2018, Gibraltar)
Blockchain based university
WRIO Internet OS (2015, Prague)
Internet OS built on blockchain
Wyzerr (2012, Covington)
Feedback platforms for market research

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
57
Tokens > Access Tokens: Leaderboard
Better than Market Average
Market: Access Tokens
Overall
Rating
Company
Name
Foun
ded
Year
Location Stage Funding Team
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Chronobank.io 2016 Sydney Seed $5.4M - 4 - - 13 822k 19k 3k 10 645k 331% 2 25% 5.6k 40%
5.0 Sirin Labs 2013 Tel Aviv Series A $72M 3 4 - - - 299k - 3k 36 234k 346% 2 4% - -
5.0
Civic
Technologies
2016 Palo Alto Seed $2.8M - 4 - - 15 237k - 30k 379 152k 161% 73 23% - -
5.0 GameCredits 2003
Santa
Monica
Funded - - 4 - 3 4 462k - 15k 78 362k 303% 7 17% - -
5.0 SELFLLERY 2016 Singapore Unfunded - - 4 3 3 1 535k 4.4k 8k 233 486k 731% 120 102% -360 -8%
5.0 PM7 2015 Tallinn Unfunded - 3 4 4 5 1 404k 2.1k 30k 238 368k
1130
%
33 16% -109 -5%
5.0 APR Coin 2018 0.0 Unfunded - - 5 - 3 - 384k 3.3k 30 6 36k 10% 3 85% 1.3k 66%
4.9 ionomy 2016 Swansea Unfunded - - 4 - 5 1 2.7M 7.9k 4k 40 3M 688% 10 33% 895 13%
4.9 AIAR 2016 Stockholm Funded - - 5 - 4 - 5.8M 62 300k 503
-
12.2M
-69% 36 7% 86
-
368%
4.9 Bunz 2013 Toronto Unfunded - - 4 4 3 - 173k 2.3k 75k 550 -48k -23% 174 44% - -
4.9 Storm 2014 Seattle Funded - - 4 - 4 - 440k 27k 3M 65.1k -2.1M -84% 256 - -100 -
4.9 VINchain.io 2017 Wilmington Unfunded - 4 5 - 3 1 370k 8.8k 3k 38 125k 49% - - 867 11%
4.9 Crypto Hunt 2017 Rijeka Unfunded - - 4 - 4 - 10M - 3k 209 10M
1598
%
16 8% - -
4.9 Akn 2014 San Jose Funded - - 4 - - - 8.2M - 30k 89 -1.4M -14% 25 39% - -

Incubators NFX (#1), Plug and Play Tech Center (#1)
Seed Musha Ventures (#1), Goodwater Capital (#1)
Series A/B Digital Currency Group (#1), Bain Capital Ventures (#1)
Series C+
None
Angel
MinersINC (2017, Singapore)
Seed
Seed
Zcash Electric Coin Company
(2016, Boulder)
$133M - Series B
$2M - Seed
Carbon (2018, New York City, $3.4M)
$1.4M - Seed
Carbon (2018, New York City, $3.4M)
$3M - Seed
Fragments (2017, San Francisco, $3M)
$3.5M - Series A
Copernicus Gold (2015, Singapore,
$3.5M)
$5.7M - Seed
SweatCoin (2014, London, $6.3M)
Seed
Zcash Electric Coin Company
(2016, Boulder)
May 2016
Craig Wright backs out and won’t prove that he is bitcoin
creator Satoshi Nakamoto, TechCrunch
Mar 2017
Japanese Zaif Exchange Will Treat Bitcoin Unlimited Chain
An Altcoin Under BTU Ticker, NewsBTC
Jun 2017
Zcoin Creates Algorithm to Avoid Bitcoin’s Mining
Centralization Problem, Finance Magnates
Dec 2017
What Is ZCash Worth? ZCash Price Passes $600, International
Business Times
Oct 2017
JP Morgan Chase upgrades its Quorum blockchain with
security from Zerocoin - SiliconANGLE, SiliconAngle
Dec 2017
Ethereum Co-Creator Steven Nerayoff Joins RCN Advisory
Board, Coinspeaker
Jul 2017
Zcoin Achieves First Ever Implementation of Merkle Tree
Proof to Solve Miner Centralization Imbalance, Inside Bitcoins
Oct 2017
Ripio Credit Network Raises $31M in Private Pre-Sale from
Accredited Investors, FinSMEs
Jan 2017
YoCoin Launches a Decentralized Blockchain-Based
Insurance Platform, Newswire
Dec 2016 We create an amazing mobile banking service, CoinFox
Dec 2017
ATB Coin the Latest to Face Class-Action Suit After ICO,
CoinDesk
Jan 2017
bitcoin jumps above $1,000 for first time in three years,
Technology News, ETtech, Indiatimes
Sep 2017
Ripio Credit Network Announces ICO Pre-Sale, Crowd Sale
Starts on October 17 | Crowdfund Insider, Crowdfund Insider
News
-
1
5
26
199
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Tokens > Payment Tokens > P2P: Market Factsheet
58
Exits
Recent InvestmentsPayment tokens used for P2P
transfers
Basis
(2017, Hoboken, $133M)
SweatCoin
(2014, London, $6.3M)
Copernicus Gold
(2015, Singapore, $3.5M)
Carbon
(2018, New York City, $3.4M)
Fragments
Top Companies
Cryptocurrencies > Market Details > Market: P2P
Market: P2P
0
5
10
15
$0k
$200M
$400M
2014 2015 2016 2017 2018

Tokens > Payment Tokens > P2P: Top Companies
Market: P2P (1/2)
Analyst’s Pick
Stable Cryptocurrency
Editor's Pick. Stage: Series B
Musha Ventures, Bain Capital Ventures, Lightspeed
Venture Partners and 20 Other Investors
Dogecoin (2013, San Francisco, $445k)
P2P Cryptocurrency
Blackbird Ventures
Bitcoin (2009, London)
P2P digital currency
ValueNet Capital, Digital Finance Group, Pantera
Capital and 3 Other Investors
Bitcoin Cash (2017)
Peer-to-Peer Electronic Cash
Victory Square Technologies
Bytecoin (2012, Berlin)
An open decentralized cryptocurrency.
Analyst’s Pick
Decred (2016, Chicago)
1 tier digital cryptocurrency
Dentacoin (2016, Maastricht)
Dental industry oriented cryptocurrency
Electroneum (2017, Maidstone)
Mobile based cryptocurrency
GoNetwork (2016, Waterloo)
Low cost mobile first network infrastructure for
Ethereum
iP2PGlobal (2017)
Sharia compliant decentralized P2P lending
Litecoin (2011, Toronto)
Open source P2P digital currency
Analyst’s Pick
Monacoin (2013, Osaka)
A P2P payment network and digital currency
Pay Pebble (2014, Palo Alto)
Crypto currency for millions of transactions per
second
PIVX (2016, Newport Beach)
Open Source Cryptocurrency
TenX (2016, Singapore)
Platform to enable interoperability among different
Blockchain platforms
ValueNet Capital, Cosmic Cafe, ICH, Victory Square
Technologies
The Monero Project (2014, Cape Town)
Monera alternative cryptocurrency for private
transactions

Tokens > Payment Tokens > P2P: Top Companies
Market: P2P (2/2)
Analyst’s Pick
Verge (2014, Chicago)
Multi-algorithm cryptocurrency
Veritaseum (2013, New York City)
Blockchain-based software-driven P2P capital
markets
Zcash Electric Coin Company (2016,
Boulder)
Alternative currency and payment system
Winklevoss Capital, Fifth Era, Fenbushi Capital and
3 Other Investors

61
Tokens > Payment Tokens > P2P: Leaderboard
Market: P2P
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Dentacoin 2016 Maastricht Funded - - 4 - 5 1 246k 18k 30k 47 248k 456% 60
-
539%
3.5k 23%
5.0 Electroneum 2017 Maidstone Funded - - 4 - 4 5 25k 127k 750k 17.1k 20k 363% 13.6k 372% 25.6k 25%
4.9
Copernicus
Gold
2015 Singapore Series A $3.5M - 5 4 4 1 10M 41 3k 29 15M 531% 1 4% -2 -5%
4.9 LaLa World 2016 Delhi Series A $2M - 4 - 4 7 787k 9.3k 3k 64 701k 485% 38 145% -245 -3%
4.9 Phoneum 2017
Niagara
Falls
Unfunded - - 5 - 4 1 270k 14k 30k 127 86k 58% 5.5k
-
103%
3k 26%
4.9 SweatCoin 2014 London Seed $6.3M - 4 - - 1 126k 10k 7.5M 28.3k 13k 11% 13.3k 89% 2.9k 39%
4.8
Phore
Blockchain
2014 London Unfunded - 3 5 - 5 1 649k 25k 300 9 179k 40% 1 13% 33.4k
-
444%
4.8 TenX 2016 Singapore Funded - - 4 - - 7 181k 142k 75k 212 145k 414% 67 46% 16.3k 13%
4.8 PIVX 2016
Newport
Beach
Unfunded - - 4 - 3 2 234k 60k 8k 190 149k 174% 13 7% 2.4k 4%
4.8 Verge 2014 Chicago Unfunded - - 3 - - - 184k 306k 75k 648 169k
1171
%
132 26% 61.1k 25%
4.7 Bitdeal 2017
Ho Chi
Minh City
Unfunded - - 4 4 4 - 780k 854 18k 216 726k
1091
%
26 14% 127 17%
4.7 Cloakcoin 2014 Munich Unfunded - - 5 5 4 - 1.2M 18k 3k 35 702k 158% 7 25% -2065 -10%
4.7 YOcoin 2015 Bangkok Unfunded - - 4 3 4 1 451k 697 3k 26 232k 91% 26
5650
%
33 5%

Incubators Y Combinator (#1), Rockstart (#1)
Seed Liberty City Ventures (#2), Canaan Partners (#1)
Series A/B SV Angel (#1), Money Partners Group (#1)
Series C+
Paradex May - 2018
Acq by Coinbase
Poloniex Feb - 2018
Acq by Circle for $400M
Anyoptions Jun - 2017
Acq by Invest
Orderbook Oct - 2016
Acq by Safello
$22.7M - Series A
$125k - Seed
Bundle Network (2017, St. Julians,
$125k)
Seed
LXDX (2018, Chicago)
$1.1M - Seed
Keyrock (2017, Brussels, $1.1M)
$2.2M - Seed
CVEX Group (2016, Austin, $2.2M)
Series A
Grayscale (2013, New York City)
$1.5M - Seed
Commonwealth Crypto (2017,
Boston, $1.5M)
$120k - Seed
TigerEx (2017, Sunnyvale, $120k)
Nov 2017 BlockEx Looks to Clean up ICO Market Place, PR Newswire
Mar 2017
Kraken Buys Out Digital Currency Data Portal Cryptowatch,
CoinDesk
Jul 2017
SBI Reveals Joint Blockchain Remittance Venture With South
Korean Startup, Inside Bitcoins
Feb 2018
Kraken Prepares to Shut Down SWIFT Funding Accounts in
Japan, Finance Magnates
Apr 2016
Industry Report: Kraken, Others Receive Large Investments,
Bitcoinist
Oct 2016
Crypto Financial Platform OpenLedger Goes 'Wall Street'
With New ICO Investments, Forbes
Oct 2014
LedgerX gets Google, Lightspeed backing to set up regulated
bitcoin futures exchange, LeapRate
Nov 2017
AllenHark to provide real time reports on investment to
crypto-traders in new platform, Kachwanya.com
Dec 2016
Kraken Hires Director of Business Development, Marine
Technology News
Mar 2015
Wisconsin Exchange Hub Coinigy Raises $100,000 Seed
Funding – allcoinsnews.com, AllCoinsNews
Oct 2017
East Williamsburg’s Airswap Raises $36 Million in ICO,
Citybizlist
Jul 2017
LedgerX becomes first federally supervised options venue
for bitcoin | Financial Industry & Algorithmic Trading News
| Automated Trader, Automated Trader
Jun 2015 Kirill Suslov - Bitcoin Wednesday's Profile, Bitcoin Wednesday
Mar 2014
Payward Raises $5M From Hummingbird To Fund Kraken
Bitcoin Exchange – TechCrunch, TechCrunch
News
5
2
10
40
203
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Financial Services > Trading & Investments > Trading Platforms: Market Factsheet
62
Exits
Recent InvestmentsPlatforms which enable trading of
cryptocurrencies
itBit
(2012, Tower, $28.3M)
SFOX
NAGA
(2015, Hamburg, $14.2M)
LedgerX
(2014, New York City, $11.4M)
CoinPlug
(2013, Seoul, $8.3M)
Top Companies
Cryptocurrencies > Market Details > Market: Trading Platforms
Market: Trading Platforms
0
5
10
$0k
$50M
$100M
2014 2015 2016 2017 2018

Financial Services > Trading & Investments > Trading Platforms: Top Companies
Market: Trading Platforms (1/2)
Analyst’s Pick
itBit (2012, Tower, $28.3M)
Provider of Trading & Settlement platforms
RRE Ventures, Liberty City Ventures, Canaan
Partners and 3 Other Investors
Online Bitcoin broker
Minicorn. Stage: Series A
Social Capital, Y Combinator, Khosla Ventures and
10 Other Investors
NAGA (2015, Hamburg, $14.2M)
Decentralized platform for financial solutions
Fosun
LedgerX (2014, New York City, $11.4M)
Institutional derivatives exchange.
Editor's Pick. Stage: Series B
MIAX Options, Digital Finance Group, GV and 7
Other Investors
Analyst’s Pick
CoinPlug (2013, Seoul, $8.3M)
Bitcoin exchange & wallet service
SBI Investment Korea, Atinum Investment, SFA
Semiconductor and 5 Other Investors
Kraken (2011, San Francisco, $5M)
Bitcoin exchange platform and trading platform
Money Partners Group, SBI Holdings, Hummingbird
Ventures and 5 Other Investors
SolidX Partners (2014, New York City, $3M)
Digital currency investment software and
blockchain platform
Minicorn. Stage: Seed
Liberty City Ventures, Red Sea Ventures, Red Swan
Ventures, Raptor Group
Commonwealth Crypto (2017, Boston, $1.5M)
Non-custodial cryptocurrency trading platform
Underscore VC, Highland Capital Partners, Notation
Analyst’s Pick
Coinigy (2014, Milwaukee, $500k)
Trading platform for digital currency across BTC
exchanges
Polycoin (2014, Tel Aviv)
Financial trading platform
Minicorn. Stage: Unfunded
AllenHark Terminal (2014, Nairobi)
Trading terminal for crypto market
Afrinet Capital
CoinDash (2016, Tel Aviv)
Social trading platform for crypto investors
TaaS, HyperChain Capital, Ether.Camp
CoTrader (2017, Gibraltar)
Decentralized trading platform
Dropil (2018, Irvine)
Crytocurrency trading and analysis platform

Financial Services > Trading & Investments > Trading Platforms: Top Companies
Market: Trading Platforms (2/2)
Analyst’s Pick
Kyber Network (2017, Singapore)
On-chain exchange for liquidating blockchain based
tokens.
Team In Residence, Amino Capital, Pantera Capital
LGO Exchange (2017, Saint-mande)
Decentralized crypto exchange
LXDX (2018, Chicago)
Cryptocurrency trading platform
Dymon Asia
PocketBits (2016, Nashik)
Indian cryptocurrency exchange
Editor's Pick. Stage: Acquired
Goldman Sachs, Baidu
QRYPTOS (2016, Tokyo)
Cryptocurrency trading platform
Analyst’s Pick
Qvolta (2017, Singapore)
Peer to peer cryptocurrency exchange.

65
Financial Services > Trading & Investments > Trading Platforms: Leaderboard
Market: Trading Platforms
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 COBINHOOD 2017 Taipei Funded - - 4 3 3 1 64k 53k 75k 446 6k 9% 203 78% 37.6k 230%
5.0 Tab-trader 2013
St.
Petersburg
Seed $73.8k - 5 - - 2 1.1M 4.7k 750k 36.8k 864k 331% 5.5k 17% 417 10%
4.9 HybridBlock 2016 Singapore Funded - - 5 4 4 2 406k 4.5k 750 12 101k 33% 10 384% 5.3k
-
662%
4.9 IQ Option 2013 Mahe Unfunded - - 4 - 4 2 2k 17k 30.1M
314.4
k
1k 167% 51.6k 19% 4.1k 30%
4.9 CoinPlug 2013 Seoul Series B $8.3M - 3 - - 3 1.2M 356 3k 16 909k 459% 1 7% 41 13%
4.9 Poloniex 2013 Whitefish Acquired - - 3 - - 10 5k 192k 30k 182 5k 550% 125 192% 34k 21%
4.8 BTCBox 2014 Tokyo Unfunded - - 3 4 5 - 260k 11k 3k 11 187k 298% 1 10% 1.4k 13%
4.8 BitMart 2017 0.0 Unfunded - - 5 3 3 - 106k 33k 3k 53 -10k -11% 12 -64% 3.1k 10%
4.8 EasyMarkets 2001 Limassol Unfunded - - 4 - 4 4 117k 18k 300k 552 34k 41% 181 49% -1000 -5%
4.7 Fox Trading 2016 Barcelona Unfunded - - 4 - 4 - 664k 13k 750 4 -24k -3% 3 300% 7.5k 131%
4.7 Zaif 2014 Osaka Series A $7M - - 4 3 - 10k 62k - - 7k 248% - - 2k 3%
4.7 Kyber Network 2017 Singapore Funded - - - - 4 11 137k 89k - - 49k 55% - - 26.5k 42%
4.7 BTCMonk 2017 Pune Unfunded - - 4 - 3 - 1.6M 151 30k 224 -77k -5% - - 29 23%
4.6
Commonwealt
h Crypto
2017 Boston Seed $1.5M - - - 4 1 4.3M 487 - - -1.9M -31% - - 19.6k
-
103%
4.6 Omega One 2017 Brooklyn Funded - - - - 4 1 1.3M 6k - - 790k 198% - - 326 6%

Cryptocurrencies > Market Details > Market: Exchanges
Market: Exchanges

Market: Exchanges (1/2)

Market: Exchanges (2/2)

Market: Exchanges

Cryptocurrencies > Market Details > Market: App-based
Market: App-based

Market: App-based

Cryptocurrencies > Market Details > Market: Online
Market: Online

Market: Online

Cryptocurrencies > Market Details > Market: Protocol Tokens
Companies Created 34 | Funded 9 | Total Funding $16.5M
Market: Protocol Tokens

Cryptocurrencies > Market Details > Market: Asset-backed
Market: Asset-backed

Cryptocurrencies > Market Details > Market: Payments
Market: Payments

Market: Payments

Cryptocurrencies > Market Details > Market: Crypto-collateral
Market: Crypto-collateral

Cryptocurrencies > Market Details > Market: Investment Management
Market: Investment Management

Cryptocurrencies > Market Details > Market: Lending
Market: Lending

Market: Lending

Market: Online

Cryptocurrencies > Market Details > Market: Payment Tokens
Market: Payment Tokens

Cryptocurrencies > Market Details > Market: Contract Mining
Market: Contract Mining

#4 Top Markets of Early Stage Investors
Cryptocurrencies > Market Details > Market: Crypto Assets
Market: Crypto Assets

#1 Other Notable Markets
Cryptocurrencies > Market Details > Market: Market Data
Market: Market Data

Market: Market Data

Cryptocurrencies > Market Details > Market: Dividend Tokens
Market: Dividend Tokens

Cryptocurrencies > Market Details > Market: Money Transfer
Market: Money Transfer

Cryptocurrencies > Market Details > Market: Pool Mining
Companies Created 48 | Funded 9 | Total Funding $122k
Market: Pool Mining

Market: Pool Mining

Cryptocurrencies > Market Details > Market: Portfolio Tracking & Management
Market: Portfolio Tracking & Management

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
121
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies
123
Performance indicators of public companies in Cryptocurrencies
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Dec 2017
HashChain (2017, White Rock)
CVE:KASH
Dec 2017
Blockchain Intelligence Group (2015, Vancouver)
Bitcoin Blockchain Search & Big Data Analytics
BIGG
Dec 2014
Netcoins (2014, Vancouver)
$528M CNSX:NETC
Marathon Patent Group (2013, Las Vegas)
$24.1M MARA
Kabuni (2015, Vancouver)
Blockchain based platform for 3D printing
$5.7M $4.2k ASX:KBU
Byte Power Group (1989, Newstead)
$1.4M $555k ASX:BPG
Exodus (2016, Lincoln)
HIVE Blockchain Technologies (2017, Vancouver)
Bitcoin Group (2014, Melbourne)
Bitcoin mining company.
Vogogo (2008, Calgary)
Cryptocurrency mining solutions
Cryptocurrencies > Exit Outlook > Public Companies

Notable Acquisitions (1/6)
124
Notable Acquisitions in Cryptocurrencies
Cryptocurrencies > Exit Outlook > Notable Acquisitions
2018 YTD
Acquirer: Binance
Trust Wallet (2017, Mountain View)
Mobile wallet for Ethereum-based tokens
Acquirer: Epazz
CryptFolio (2013, Wellington)
Cryptocurrency portfolio tracking and management
firm
Acquirer: Watch Out
BitWall (2013, San Francisco)
Micropayments for publishers
Acquirer: Coinbase
Paradex (2017, New York City)
Decentralized P2P trading platform
Acquirer: nChain
HandCash (2018, Madrid)
Bitcoin Wallet for Contactless Payments
2018 YTD
Acquirer: Coinbase Deal: $120M
Decentralized network for reward-based task
completion
Acquirer: Coinbase
Cipher Browser (2018, San Francisco)
Ethereum wallet and dapp browser
Acquirer: Monex Group, Inc. Deal: $33.9M
Coincheck (2012, Tokyo)
Cryptocurrency exchange based in Japan
Acquirer: Resaas Deal: $825k
RealBlocks (2015, New York City, $120k)
Real Estate investment platform
Acquirer: Circle Deal: $400M
Acquirer: Evonax
ExchangeMyCoins (2014, Hojbjerg)
Cryptocurrency exchange platform.
2018 YTD
Acquirer: DMG
BlockSeer (2015, Palo Alto)
Blockchain analytics platform
Acquirer: HashChain Deal: $8M
Node40 (2015, Albany)
Dash masternode hosting and service provider
Acquirer:
BTCC (2011, Shanghai, $5M)
Bitcoin mining, exchange, wallet and gateway APIs
Acquirer: Costas
AuthentaTrade (2015, Nicosia)
Cryptocurrency exchange

125
2017
Acquirer: LongFin Corp
Ziddu (2007, Singapore)
Online wallet services for storing Bitcoins
Acquirer: Collinstar
BW (2014, Shenzhen)
Bitcoin mining pool
Acquirer: Marathon Patent Group
Global Bit Ventures (2017, Burlington, $7.2M)
Digital asset company
Acquirer: Formax
ZuluTrade (2007, Piraeus)
Social trading platform
Acquirer: NEXON Deal: $80M
Korbit (2013, Seoul, $3.4M)
South Korean bitcoin exchange platform
Acquirer: ShapeShift
KeepKey (2015, Bothell)
Opensource bitcoin hard wallet
2017
Acquirer: Invest
Anyoptions (2008, Tel Aviv)
Binary options trading.
Acquirer: Unikrn
Leetcoin (2014, Las Vegas)
Cash based eSports platform for competing in
tournament using bitcoins
Acquirer: BTC Media
Lets Talk Bitcoin (2013, Napa)
Monetized social network for bitcoin content
Acquirer: CoinDesk
Lawnmower (2015, San Francisco)
Convert day-to-day change into bitcoin investment
2016
Acquirer: Kraken
Glidera (2012, Seattle, $1M)
Non-custodial wallet for fiat to bitcoin exchange.
Acquirer: Kraken
Glidera (2014, Chicago, $118k)
Online bitcoin wallet
Acquirer: Uphold
Bitnet (2014, San Francisco, $14.5M)
Digital commerce platform
Acquirer: Safello
Orderbook (2011, Roseau)
Bitcoin's future exchange.
Acquirer: CEX.IO
GHash (2013, London)
World's largest Bitcoin mining pool.
Acquirer: Blockstream
GreenAddress (2013, Valletta)
Secure online Bitcoin wallet with social integration

126
2016
Acquirer: Bitmain
Blocktrail (2014, Amsterdam, $670k)
A powerful Bitcoin wallet, API and Block Explorer
#bitcoin
Acquirer: Global Advisors
XBT Provider (2014, Stockholm)
Bitcoin based tradable security.
Acquirer: Shandong Lu Yitong Intelligent
Electric Deal: $466M
Canaan (2013, Beijing, $43.5M)
Blockchain servers and ASIC microprocessor
manufacturers
Acquirer: Athena Bitcoin
BitQuick (2013, Columbus)
Bitcoin exchange
Acquirer: KeepKey
MultiBit (2011, London)
Secure lightweight bitcoin wallet
2016
Acquirer: Prasos
Coinmotion (2013, Helsinki)
Coinbase for the Nordics and Russia
Acquirer: The Carlyle Group
Digitex Futures (2017, Mahe)
Futures exchange platform for trading
cryptocurrency
Acquirer: Kraken
Coinsetter (2012, New York City, $1.8M)
Bitcoin exchange and trading platform.
Acquirer: Kraken
CaVirtex (2011, Calgary)
Canadian Bitcoin exchange.
Acquirer: Digital Currency Group
CoinDesk (2013, London)
The Voice of Digital Currency
2015
Acquirer: BitcoinShop
Spondoolies Tech (2013, Tel Aviv, $13M)
Provider of bitcoin mining hardwares and mining
contracts
Acquirer: Coinify
Coinzone (2014, Amsterdam, $1.4M)
Digital currency solution for merchants and
consumers
Acquirer: meXBT
Coin Republic (2013, Singapore)
Crypto-currency brokerage firm
Acquirer: Synopsys
Elliptic (2014, London, $11M)
Bitcoin's blockchain intelligence & risk management
company
Acquirer: BitNational Deal: $2.1M
Bitcoin Brains (2013, Calgary)
Mining hardware provider

127
2015
Acquirer: Satoshi Citadel Industries
BuyBitcoin (2013, Manila)
Bitcoin exchange platform
Acquirer: CoinOutlet
LibertyX (2013, Boston, $400k)
Bitcoin ATMs at retail stores
Acquirer: yBitcoin
Bitcoin Magazine (2012, Nashville)
Media source on Bitcoin and related news articles.
2014
Acquirer: ANX International
Justcoin (2013, Hong Kong)
Online Bitcoin exchange.
Acquirer: Coinify
BIPS (2011, Copenhagen)
Bitcoin Payment Solutions
Acquirer: Bitmain
Hashnest (2013, Beijing)
Provider of Cloud mining and contract exhange.
Acquirer: Huobi
Qukuai (2013, Beijing)
Blockchain explorer services provider.
Acquirer: Coinbase
Blockr (2013, Ljubljana)
Cryptocurrency block explorer service.
Acquirer: Huobi
Quickwallet (2014, Xiamen)
Multisignature wallet with free transfers
2014
Acquirer: Coinify
Bitcoin Nordic (2012, Copenhagen)
Bitcoin exchange.
Acquirer: Macro Energy
digitalBTC (2013, Perth, $2.8M)
Digital currency wallet integrated with a smart card

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