Alphabet Makes $1.5 Billion Investment in Blockchain Sector

Singapore's Whampoa Group Unveils $100M Crypto Venture Fund
  • Most investments are held by Samsung, 13.
  • BlackRock trails only Alphabet in total investment capital with about $1.17B.

Blockdata has examined data from the top 100 banks that are actively investing in crypto and blockchain firms. Large financial organizations are combining their resources to make the most of the rapidly developing blockchain and cryptocurrency markets. According to Blockdata’s report, the industry’s top 100 organizations have different areas of focus within blockchain technology.

The information in the report covers the time period of September 2021 to early June 2022. The blockchain and cryptocurrency industries have seen 40 separate investments throughout this time period. The most investments (13) are held by Samsung, making them the most active investor. The next three largest investors were UOB (7 investments), Citigroup (6), and Goldman Sachs (5).

Blockchain Investment on the Rise

According to the report’s findings, Alphabet has poured more than $1.5 billion into four different blockchain and cryptocurrency companies. Alphabet has put money into startups including Fireblocks, Dapper Labs, Voltage, and the Digital Currency Group.

BlackRock trails only Alphabet in total investment capital with about $1.17 billion spread among three companies (Circle, FTX, and Anchorage Digital).

In the period from September 2021 to June 2022, forty companies together invested about $6 billion into blockchain businesses. Since several investors may participate in a given round, it is difficult to determine how much money was contributed by any individual company.

As the demand for cryptocurrency and blockchain technology from customers grows, Alphabet, Google’s parent firm, has launched many blockchain-related initiatives. Since cryptocurrency is gaining popularity throughout the world, businesses are scrambling to grab a piece of the action by investing in different blockchain initiatives.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.