Kraken CEO on Neutrino analysis: "Neutrino came in last place"

04 Mar, 2019
by Ryan Boltman
Kraken CEO on Neutrino analysis: Neutrino came in last place

In case you missed the recent news surrounding Coinbase and their latest acquisition, Coinbase last week announced that they had acquired Italian blockchain analysis company Neutrino. The announcement received a lot of criticism from the public due to the fact that Neutrino's executive team used to work for a company called Hacking Team, a company which earned itself "Enemy of the Internet" by Reporters Without Borders. 

Kraken CEO Jesse Powell recently tweeted about the Neutrino evaluation that his team at Kraken had performed. 

In the review, the Kraken compliance team reviewed five blockchain analytics tools, which inlcuded Chainanalysis, BitFury Crystal, Elliptic Forensics, CipherTrace, and of course Neutrino. 

In the evaluation, Powell adits that Neutrino came in last place on product, "but was disqualified anyway due to the risks" he tweeted. 

Powell does mention that other factors are important in M&A (Mergers and Acquisitions), listing cost and culture fit as two examples. It is hard to say whether this is a dig at Coinbase or not in terms of the 'culture fit' example. 

Looking at the review report that Powell added to the tweet, the report mentions that Neutrinos offering of a wide selection of blockchain analysis as positive. In terms of possible risks, the report mentions "Neutrino's founder is also the founder of HackingTeam, an Italian cybersecurity firm that is known to pass information with Kaspersky Lab, GroupIB, and other Russian firms closely linked with FSB"

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