Jonathan Levin steps up as the new CEO of Chainalysis, a prominent blockchain analysis company, following the exit of Michael Gronager, the co-founder and former CEO. This change in leadership comes two months after Gronager took a leave of absence.

Chainalysis has made a name for itself by providing critical cryptocurrency compliance software to government bodies and businesses aiming to track their digital currency transactions. The company offers diverse tools that reveal the often hidden aspects of cryptocurrency transactions.

Levin, previously the Chief Strategy Officer, anticipates that the demand for the company’s services will increase, especially in light of the potential pro-cryptocurrency stance of the incoming U.S. administration. He believes this could result in a more widespread adoption of cryptocurrencies.

“Given the current market enthusiasm and Chainalysis’s healthy financial standing, it’s crucial for us to lead the market for our customers and venture into expanding the platform,” Levin stated.

Levin and Gronager co-founded Chainalysis in 2014. While Levin didn’t divulge the specifics behind Gronager’s exit, he mentioned that both the board and Gronager felt it was time for a change. Sari Granat, the company’s president, had been functioning as the interim CEO.

Paul Auvil, a seasoned executive in tech and finance, will fill Gronager’s board seat. He will serve as an independent director and head the audit committee.

It’s common for private companies to bring on independent directors before launching an Initial Public Offering (IPO). This step is often required for listing on major U.S. stock exchanges. Chainalysis has raised capital through multiple funding rounds from investors who are likely waiting to cash in when the company enters the public markets.

When asked about a possible IPO for Chainalysis, Levin chose not to comment. He stated, “My main focus has been on ensuring that Chainalysis is developing the best solutions in the current market conditions.”