Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) leads public companies in terms of funding crypto and blockchain startups, according to research compiled by Blockdata.
What Happened: Alphabet has invested $1.5 billion in four crypto-focused companies including digital asset custody firm Fireblocks, the creator of NFT projects NBA Top Shot; Dapper Labs, the node infrastructure provider for Bitcoin’s (CRYPTO: BTC) Lightning Network Voltage; and digital asset venture fund Digital Currency Group.
After Alphabet, BlackRock Inc (NYSE:BLK) was the second largest investor in crypto firms based on investment size.
The world’s largest asset manager has invested $1.17 billion in three crypto firms, including USD Coin (CRYPTO: USDC) stablecoin issuer Circle, crypto exchange FTX and digital asset platform infrastructure provider Anchorage Digital.
Wall Street banking giant Morgan Stanley (NYSE:MS) is the third largest crypto startup investor, having committed $1.1 billion to two blockchain companies. The investment firm recently debuted a new tool that would let traders forecast the price of Ethereum (CRYPTO: ETH) based on the level of speculative activity in the market.
According to Blockdata’s research, 40 publicly traded companies have committed a significant amount of capital to blockchain companies between September 2021 and June 2022.