Google’s parent company, Alphabet, has invested $1.5 billion in projects related to the blockchain industry, a report shows.
According to the latest Blockdata research, Alphabet has been involved in the growth of the blockchain industry, supporting several startups in their growth.
The tech giant invested $1.5 billion from Sep 2021 to June 2022 into four blockchain companies – a digital custody company Fireblocks, venture capital firm Digital Currency Group, Lightning Node infrastructure platform Voltage, and blockchain video games company Dapper Labs.
Over the period, 40 public companies made investments worth $6 billion in the blockchain industry, the report shows, including BlackRock’s $1.17 billion, Morgan Stanley’s $1.11 billion, and $972 million from Samsung, which backed as many as 13 platforms – the biggest number of startups in the report.
Blockdata’s research also shows that investors are mostly interested in companies providing blockchain services, infrastructure platforms, blockchain development companies, dApps, smart contracts, and custody solutions.
Despite the recent downfall of the crypto market and consequent falling interest toward the industry, Inc. magazine has included several companies in its Inc. 5000 2022 list, naming BlockFi the fastest growing company of the year.
According to the magazine, the crypto lender has experienced a 245,616% growth. Other companies on the list include Polygon, CoinFlip, Distributed…
