[lmeyerov]

Sort of. We do a lot on the graph AI + graph viz as powertools behind investigative teams here, and behind the scenes, it's not such a clean story. Some real growers, but most we've seen hit a surprisingly low ceiling:

- There just isn't that much KYC-worthy commercial+retail transaction volume, and a lot that does exist is from just a handful of big exchanges etc. So there is some revenue here, but not enough for standalone co's at current ecosystem's level. The "real" KYC play is still largely investors speculating on a future years from now and propping these co's up.

- There was a lot of crypto startups needing their smart contracts vetted. Still some $ overhand from last 2-3 years where these are still happening. A bunch of crypto companies cratered, and we'll probably keep seeing that, so uncomfortable inbetween period for these auditors too.

- Two big areas growing are (a) gov are getting more into chasing this stuff down and (b) banks are warming up to crypto offerings. The former is real revenue for teams who know how to work with tricky gov entities, and the latter is POC $. I'm seeing some compliance stuff happening (similar to how Stripe does taxes for you know, imagine someone doing KYC for you accepting ETH), but again, tiny market that's really a speculation for who-knows-when.

It's pretty "easy" to hustle $Xm in services contracts, but big recurring revenue is not so clear cut due to the market.