Wednesday, June 7

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

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.

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.

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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