A blog published by the blockchain insights website Blockdata revealed that Google’s parent company Alphabet invested $1.56 billion in blockchain companies. With this it is taking the lead among publicly traded firms investing in the sector, with Blackrock, Morgan Stanley, Samsung, and Goldman Sachs among the other top corporations.
Alphabet invested $1.56 billion over four rounds, Blackrock invested $1.17 billion over three rounds, and Morgan Stanley invested $1.1 billion over two rounds. Samsung leads the pack with 13 funding rounds totaling $979 million, while Goldman Sachs comes in fifth with $698 million.
While Samsung is betting on blockchain services, development platforms, NFT, and social networks, Alphabet and Blackrock are taking a different approach by focusing on a smaller set of companies such as Fireblocks and Circles.
According to the study that looked at the top 100 banks investing in blockchain/crypto and public companies previously, forty corporations invested in blockchain/crypto companies between September 2021 and June 2022.
“A total of 61 blockchain/crypto companies received investments across 71 investment rounds,” with many of these companies involved in industries such as gaming, arts and entertainment, and distributed ledger technology (DLT).
Sundar Pichai, CEO of Alphabet, spoke on Web3 developments in February, revealing the company’s stance on revolutionary blockchain technology, monitoring developments, and examining how Google’s parent company can contribute to the development of Web3.