According to recent research by blockchain analytics firm Blockdata, Alphabet, the parent company of Google, invested a whooping sum of $1.5 billion into crypto and blockchain startups, topping the chart among the 100 publicly traded companies that betted big on the crypto industry.
The Blockdata study seeks to discover blockchain investment activities of leading public companies and which areas of the sector received more attention from investors between September 2021 and June 2022.
40 Companies Invested $6 Billion In Crypto
Per the report, Alphabet invested $1.5 billion in four companies in the crypto space, including Fireblocks and Dapper Labs, from September 2021 to June 2022.
The data also found that out of the 100 companies that have interacted with blockchain, 40 invested in crypto projects and blockchain technology through participation in funding rounds.
These companies injected approximately $6 billion into the industry, with Alphabet taking the lead. However, Blockdata explained that it is unclear how to determine the amount of capital the firms invested as they participated in investment rounds with other investors.
“In most cases, we cannot determine how much money these corporations have invested, as they participate in funding rounds with multiple or many other investors.”
Samsung Leads for Most Active Investor
While Alphabet made the most investments, the study revealed that the technology manufacturer, Samsung, was the most active participant in the industry.
According to the research, the company invested $979 million in 13 companies within ten months. The firm was also among the contributors that raised $200m in a series B funding conducted by Aleo. Similarly, Samsung was among the primary contributors to a $555 million financing conducted by MoonPay in November 2021.
The Blockdata report also revealed that the United Overseas Bank (UOB) made seven investments, taking the second position after Samsung. In comparison, Citigroup made six investments, followed by Goldman Sachs, which invested $698 million in five crypto firms. In May, the Wall Street banking giant participated in a $70 million seed round for cryptocurrency exchange Elwood.
Source: https://coinfomania.com/googles-alphabet-invested-1-5b-in-crypto/#utm_source=rss&%23038;utm_medium=rss&%23038;utm_campaign=googles-alphabet-invested-1-5b-in-crypto