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August 18, 2022

BlackRock, Google and Morgan Stanley Investing Billions Into Blockchain and Crypto Technology: Report

By Daily Hodl Staff

Forty of the world’s top 100 public companies by market capitalization are reportedly pouring in billion of dollars into blockchain and crypto firms.

According to a recent report from crypto analytics platform Blockdata, 40 firms have invested about $6 billion into blockchain and crypto companies between September 2021 and June 2022.

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Using figures from market intelligence platform CB Insights, Blockdata reports that Google’s parent company, Alphabet, has the biggest stake in blockchain. The California-based firm invested $1.50 billion in startups Fireblocks, Dapper Labs, Voltage and Digital Currency Group.

The world’s largest asset manager, BlackRock, is the next biggest blockchain company investor with $1.17 billion worth of investments in FTX, Circle and Anchorage Digital. Banking titan Morgan Stanley ranks third with $1.10 billion invested in Figment and NYDIG.

“The investors active in the biggest funding rounds are Alphabet ($1,506M in four rounds), Blackrock ($1,171M in three rounds), Morgan Stanley ($1,10M in two rounds), Samsung ($979M in 13 rounds), Goldman Sachs ($698M in five rounds, BNY Mellon ($690M in three rounds), and PayPal ($650M in four rounds).”

Among the group, Samsung is the most active, having invested in over a dozen crypto firms. The South Korean phone maker infused over $979 million to 13 companies, including Animoca Brands, Dank Bank, Flowcarbon, Saga, Big Whale Labs, Atomic Form, MYTY, FanCraze, Metrika, Sky Mavis, Aleo, Yuga Labs and Ramper.

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In total, 61 crypto companies received investments from the top public companies during the period. Of these, 19 offer non-fungible tokens (NFT)-related solutions and services, 12 are marketplaces and 11 provide gaming services.

Source: Blockdata
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