According to CoinMeta, blockchain analytics firm TRM Labs has completed a follow-on financing round from its previous Series C funding, raising its valuation to $2 billion, doubling from the $1 billion it had about six months ago. CEO Esteban Castano did not disclose the amount of this financing, only indicating that it was relatively small in scale, with funds coming from existing investors. TRM Labs expects its annual recurring revenue (ARR) to reach $100 million in the coming weeks, and the company currently has around 500 employees. The company is also expanding its AI crime investigation business and plans to launch a new investigation platform in November, which will be used to identify AI related crimes, including deepfake financial fraud.