Michael Gronager, co-founder and CEO of Chainalysis, has taken a personal leave of absence from the company. The blockchain analysis outfit isn’t sharing why but says the development is temporary.
According to The Block, which first reported the news, Chainalysis President and COO Sari Granat, who joined the outfit in 2022, is acting as interim CEO.
Ten-year-old, New York-based Chainalysis quickly developed a reputation as a “crypto detective,” working on behalf of the U.S. government and corporate clients. A year ago, Chainalysis laid off slightly more than 15% of its staff of 900, with plans to focus more squarely on government contracting, according to The Block.
The outfit, whose early investors include Benchmark, was valued by investors at $8.6 billion in 2022 during its sixth funding round, though that valuation has seemingly softened since. Crypto investor Katie Haun, who first discovered Chainalysis in her capacity as federal prosecutor, reportedly began buying up secondary shares of the company at a valuation of $2.5 billion this past April.