Michael Shaulov heads the institutional crypto custodian platform Fireblocks as its CEO. With a history in digital security, Shaulov and two others constructed Fireblocks, launching the company in mid-2019. Fireblocks essentially focuses on security and helping companies work with crypto assets.
After studying physics and computer science at the Ben-Gurion University of the Negev in Israel, Shaulov went on to undertake a number of endeavors, including co-founding a company called Lacoon Mobile Security. He led the operation as its CEO before it was bought by a separate cybersecurity-focused outfit called Check Point, with the purchase announced in 2015. In the years after the Lacoon acquisition, Shaulov spent time at Check Point as the company’s head of products, mobile and cloud security.
Founded in 2018, Fireblocks is essentially a company providing a digital hub out of which businesses can work with digital assets on a number of levels, such as connecting to other entities, and holding and sending assets. Since Fireblocks opened shop in 2019 with $16 million raised, the company has tagged a number of achievements. Included in the mix — gaining SOC 2 Type II certification in late 2019 and eclipsing the 100-customer mark in the latter half of 2020, as well as adding offices in different countries and securing hundreds of millions of dollars in additional funding.
The year hailed distinguished growth for the crypto industry as a whole. With Shaulov at the front of the ship, Fireblocks shared in that growth during the year, tallying multiple funding rounds. Over the course of the year, Fireblocks operated out of seven offices across the world with 253 employees, boasting $40 billion in assets under custody.
Announced in March 2021, a Series C funding round helped Fireblocks capture $133 million in capital from a number of parties, including BNY Mellon and Stripes. Several months later, in July, Fireblocks went on to unveil that a Series D funding round had garnered a further $310 million of capital for the company. Notable investors in the Series D included DRW and Sequoia Capital.
Additionally, Fireblocks welcomed a previous leader of the United States regulatory system — Jay Clayton — onboard in an advisory role in the latter half of 2021. Clayton served as chairman of the U.S. Securities and Exchange Commission between 2017 and 2020.
The year was not all positive news for Fireblocks, however. In June, news hit of StakeHound taking legal action in Israel against Fireblocks for over $70 million worth of Ether that was allegedly deemed inaccessible due to private key mishandling. Each side blamed the other for the mishap.
If 2022 is anything like 2021 in terms of crypto industry-wide growth and interest, then the upcoming calendar period could bring another action-packed year for Fireblocks. Crypto adoption reached new heights in 2021. If the interest continues, more institutions may begin (or continue) looking into crypto, with Fireblocks presenting as a potential solution.
Logic would see Shaulov continuing to lead Fireblocks as CEO on the company’s journey, potentially becoming an increasingly bigger name in the crypto industry, depending on how prevalent Fireblocks becomes. Shaulov jumped on an array of interviews as a guest in 2021. If his name grows in line with possible further expansion of Fireblocks, demand for his insights could grow in tandem.
Custody
