TRM Labs Raises $70M Series C, Hits $1B Crypto Unicorn Valuation
Blockchain intelligence company TRM Labs said it has raised $70 million in a Series C round, bringing its valuation to $1 billion and placing the firm among crypto industry unicorns.
The financing was led by Blockchain Capital, an early backer of the company, with participation from Goldman Sachs, Bessemer Venture Partners, Brevan Howard Digital, Thoma Bravo, Citi Ventures and Galaxy Ventures, according to a news release on Wednesday.
TRM Labs develops artificial intelligence tools for public- and private-sector clients to help detect and prevent cybercrime, addressing risks tied to automation. Co-founder and CEO Esteban Castaño said the funding will support work on AI that addresses public safety, financial integrity and national security, enabling the team to collaborate with institutions facing high-impact threats and enhance the protection of critical systems.
TRM Labs plans hiring, product development in AI compliance and investigations
Headquartered in San Francisco with offices in Los Angeles, New York, Washington, London and Singapore, the company said it will use the new capital to expand its global team of AI researchers, data scientists, engineers and financial crime specialists.
TRM Labs also plans to further develop its AI-driven investigative capabilities to disrupt illicit activity and to advance solutions that help institutions manage financial crime risks.
Generative AI linked to renewed increase in crypto phishing schemes
Phishing remains a persistent threat in the digital asset sector and has seen renewed activity alongside advances in generative AI. These schemes often rely on malicious links to obtain sensitive information from victims, including private keys to crypto wallets.
In December, one Bitcoin (BTC) holder reportedly lost his entire retirement savings in an AI-enabled romance scam, commonly referred to as a “pig butchering” scheme, where AI-generated images were used to build trust and persuade the victim to transfer Bitcoin.
Despite recent incidents, reported losses tied to phishing declined 83% year over year to $83.3 million in 2025 from $494 million in 2024, according to a report from Web3 security tool Scam Sniffer.
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