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Crypto Forensics Firm TokenAnalyst Shuts Down, Some Employees Hired by Coinbase

Crypto intelligence firm TokenAnalyst is shutting down, the company announced Tuesday.

The group said in a Medium post that it would stop supporting its platform and APIs, and a flashing note on the company's website says "The data on this site does not refresh anymore." The blog post did not give a reason for the shutdown, though it did say some of the team's members will be joining Coinbase, the San Francisco-based crypto exchange.

"Our mission was to bring transparency to the decentralized world, and we believe we made significant progress towards this mission," the post said. "We built a host of tools that made blockchains easier to understand for our users, and we hope you enjoyed using our data and services as much as we enjoyed building them."

A Coinbase spokesperson confirmed that several members of the TokenAnalyst team would be joining.

"We remain committed and driven towards creating an open financial system for the world and we think that Coinbase is a fantastic place to do that," the Medium post said.

The company was founded in October 2017, just as the initial coin offering boom and crypto prices surged that year. It had a handful of employees – at least six, according to LinkedIn – including its founders, Jai Prasad and Sid Shekhar. Both joined Coinbase, according to their Twitter biographies.

"It was truly invigorating to tweet/WhatsApp/Telegram/email/Signal 24/7 with crypto enthusiasts from all over the world. It was your incredible support, encouragement, and passion that kept us going and motivated," the blog post said.

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