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The cryptocurrency compliance startup TRM Labs has been benefited by Paypal’s series of funding. Paypal has raised a $4.2 million funds with Initialized Capital, Blockchain Capital, and Y Combinator as investors. The total fund raised, however in total, has reached $5.9 million.
TRM Labs, this startup, has helped the crypto market to analyze fraud and money-laundering on the blockchain. TRM Labs is a team of 20, according to Castaño. Moreover, the San Francisco-based company says it will use the new funding for product development, hiring and expanding to new geographies.