Alphabet, BlackRock, and Morgan Stanley are the Most Active Top Public Companies Invested in Blockchain Tech
- Alphabet has invested in Fireblocks, Dapper Labs, Voltage, and Digital Currency Group.
- BlackRock has injected capital in Circle (USDC issuer), FTX exchange, and Anchorage Digital.
- Samsung is the most diversified in the blockchain industry with around 13 projects including Flowcarbon and Yuga Labs.
Research by team blockdata on top banks by assets under management reveals the investors active in the biggest blockchain funding rounds. According to the research, they include Alphabet ($1.506 billion in 4 rounds), Blackrock ($1.171 billion in 3 rounds), Morgan Stanley ($1.10 billion in 2 rounds), Samsung ($979 million in 13 rounds), Goldman Sachs ( $698M in 5 rounds, BNY Mellon ($690M in 3 rounds), and PayPal ($650M in 4 rounds).
Most probably, these companies are fleeing from ever-increasing global inflation and the future growth prospects of blockchain technology. Moreover, it has been identified that blockchain technology is capable of streamlining almost all financial and economic sectors.
Closer Look at Blockchain Technology From Blockdata’s Research
Arguably, cryptocurrency is the highest use case for blockchain technology to date. Therefore, it is a safe bet to assume that most of the top banks invested in blockchain are looking at the crypto market.
Notably, the global cryptocurrency market capitalization is $1.12 trillion, a 1.76 percent decrease over the last day. The total crypto market volume over the last 24 hours is $75.34B, representing a 12.18 percent increase.
Worth noting, that the total volume in DeFi, the leading blockchain and crypto market, is currently $5.74 billion, representing 7.62 percent of the total crypto market 24-hour volume.
The stablecoins market has the leading share in daily trades crypto volume at $66.72 billion, or 88.56 percent.
Interestingly, almost all the top banks included in the Blockdata research have invested in DeFi. Remember, DeFi and Play-to-Earn are the hottest markets in the crypto and blockchain industry at the moment.
According to the research, 40 companies invested approximately $6 billion into blockchain startups between September 2021 and June 2022. Additionally, the report noted that a total of 61 companies focused on the blockchain and crypto market received investments across 71 investment rounds.
Breaking down the figure, nineteen companies are focused on non-fungible tokens (NFT). Reportedly, ConsenSys was one of the highest beneficiaries of the fundings having received $450 million from investors including Microsoft.
Another major beneficiary was Fireblocks which received $550 million from investors including Alphabet).
Notably, Circle, a USDC stablecoin issuer, gathered $550 million from investors including Blackrock. Additionally, the report highlighted that Anchorage Digital received $350 million in the studies timeline from investors including PayPal and Blackrock.
Worth noting, that Anchorage Digital Bank is the first crypto-native bank to receive a charter from the U.S. Office of the Comptroller of the Currency.
It is safe to say, institutional investors have shown great interest in the cryptocurrency market following increased regulations around the world. Moreover, a report by Chainalysis indicates illicit crypto activities have significantly reduced year to date than in prior years. Reportedly, crypto scams have raked in around $1.6 billion this year through July, thereby representing a 65 percent decline from the same period last year.