Forbes’ annual list 50 innovative Fintech Companies only included three cryptocurrency companies: Chainalysis Fireblocks Gauntlet. Companies had to be owned privately and located in the United States to qualify.

Chainalyis, a blockchain analytics company that specializes on examining and tracking cryptocurrency transactions, was founded in 2013. has cut 15% from its staff in October. This follows a cut of 5% in February 2023. The company published a report on financing of terrorism in response to Hamas’ attacks on Israel on Oct. 7, and the hostage-taking that followed. This report refuted a Wall Street Journal article.

Fireblocks is based in New York and specializes in crypto-safekeeping technologies, such as multiparty computing (MPC). It serves large banks, including HSBC BNY Mellon, BNP Paribas, and BNY Mellon. It offers software for custody, treasury and payment services. Last year, it spent 10 million dollars on Blockfold, which specializes in tokenization. Forbes reported that the company had raised $1 billion and valued it at $8 billion by January 2022.

Gauntlet, a financial modeling and simulation platform, is available for free. Bank of America named the company as one of three platforms that are driving the development of DeFi. The company claims to protect $9 billion in customer assets. It lists Uniswap decentralized exchange Aave lending platform Immutable and Web3 gaming platform Immutable as its clients. Forbes reports that the firm raised $45m and will be valued at $1bn in March 2022.

Nick Baker is the editor.