Solidus Labs has raised $3 million seed funding with the aim to minimize crypto trading manipulation. According to the press release on Feb 20.
Solidus Labs is a digital asset trade surveillance entrepreneurial company, led by former Goldman Sachs FinTech engineers. It reportedly plans to expand the firm’s capital to finance its expertise in engineering and machine learning. Further advance its platform in regards to sales, marketing, and customer service.
The platform aims to replace the traditional and rather “outdated” surveillance tools by “sufficiently accommodate” the 24/7 world of the cryptocurrency markets. “It enables responding as things happen rather than retroactively”. Solidus’ founder and CEO Asaf Meir released.
Solidus is a web-based surveillance firm with clients ranging from exchanges and securities traders to assets investors and liquidity providers across Europe, the U.S, and Israel. The firm has supposedly achieved its goal to lower “trading manipulation false positives by 30 percent” by means of studying trading patterns and controlling anomalies in real-time.