Broader crypto market is going through a struggling phase since the start of this year. Rarely has there been some instances when cryptocurrencies might have performed well. Crypto firms become vulnerable to the effects of crypto assets price decline. Despite most such firms in beleaguered situations, many institutional and venture investors heavily invested within the space through these firms.
The list of such investors include a variety of prominent players—conglomerates and giant companies—from all across the world. Samsung, Google’s parent company Alphabet, BlackRock, Northzone, Goldman Sachs, JPMorgan, Fidelity Investments and several others were accounted as major investors in crypto firms.
Investment banking company JPMorgan Chase participated in a funding round for Owners. The startup managed to raise an impressive 20 million USD worth funding from JPMorgan and LRC Group. It is an open source protocol focusing on providing tokenized asset infrastructure using either public or private blockchains.
Investment banking company was amongst the major banks in the US who actively offered their clients with crypto trading. It also managed to raise funds upto 45 million USD to help with offering the crypto funds advising services to their clients.
Meanwhile prominent US stockbrokers Fidelity Investments is also seeking to serve their individual investors with bitcoin trading. Although there is no official announcement from the firm. Yet several sources confirmed Fidelity has plans to avail these services to its users.
Mike Novogratz, CEO of Galaxy Digital also indicated some insights mentioning Fidelity to become one of their customers soon. He said during the SALT Conference held at New York that he came to know the stockbroker firm is likely to move their huge chunk of retail customers towards crypto very soon.
Fidelity has history with crypto assets when in 2018, the firm started serving their hedge funds and institutional investors with their bitcoin-trading business offering.
Source: https://www.thecoinrepublic.com/2022/09/15/continued-investments-in-crypto-firms-regardless-of-volatility-in-market/