Blockchain companies received $1.5 billion from Google

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Blockchain companies received $1.5 billion from Google

Google’s parent company, Alphabet, revealed that it invested $1.5 billion in the blockchain sector between September 2021 and June 2022, according to Cointelegraph. As revealed by Blockdata, through a blog post, Alphabet emerged as the investor with the highest capital, compared to the top 40 public companies that have invested in blockchain and cryptocurrency companies. during the period.

As reported by Cointelegraph, Alphabet’s blockchain-focused investment involved four blockchain companies, including digital asset custody platform Fireblocks, web3.0 gaming company Dapper Labs, infrastructure tool Bitcoin Voltage and venture capital firm Digital Currency Group. These developments came to light from last year when Google invested $601.4 million in a funding effort in 17 blockchain-based companies, including Dapper Labs, Alchemy, Blockchain.com, Celo, Helium, and Ripple. . Google’s investment increase was seen as consistent with the top 40 publicly traded companies, with $6 billion invested during the period, up from $1.9 billion between January 2021 and September 2021 and $506 million. dollars for all of 2020.

Based on information from Cointelegraph, other corporate investors such as asset management firm BlackRock invested $1.17 billion, the investment banking firm Morgan Stanley invested $1.11 billion and the electronics company Samsung, with investments totaling $979.2 million. While Morgan Stanley and BlackRock invested in two or three companies, Samsung invested in 13 different companies during this period. The rest of the investments were split between companies that provide Blockchain-as-a-Service (BaaS), infrastructure, smart contract platforms, scaling solutions and custody platforms. digital assets. Data analysis also revealed that banks have started increasing their exposure to cryptocurrency and blockchain companies, supported by an increase in customer demand for cryptocurrency services. Banks that have been included in the list of cryptocurrency investors include United Overseas Bank, Commonwealth Bank of Australia, and BNY Mellon.

(With information from Cointelegraph)

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