Michael Gronager, co-founder and CEO of the analytics firm Chainalysis, has stepped down from his leadership role after a decade, citing “personal issues.” This was reported by The Block.
Sari Granat, the president and COO, is temporarily acting as CEO. She joined Chainalysis in April 2022 from the information services provider IHS Markit.
According to a company representative, Granat has a “deep understanding of the business” and “works closely” with Chainalysis co-founder and Chief Strategy Officer Jonathan Levin.
The reasons for Gronager’s sudden departure remain unclear.
In October 2023, Chainalysis laid off about 15% of its workforce (150 employees), focusing on serving government agencies. Previously, in February, the company reduced its team by 5%.
In May 2022, Chainalysis was valued at $8.6 billion, having raised $170 million in a funding round.
As reported in 2024, Chainalysis, along with Fireblocks and Gauntlet, was included in Forbes’ list of the top 50 fintech companies.
In May, the organization partnered with Tether to develop a system for monitoring USDT activity in the secondary market.