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The parent company of Google, Alphabet, has invested $1.5 billion in blockchain companies since September 2021


By TechThop Team

Posted on: 17 Aug, 2022

The top three positions were taken by BlackRock, Morgan Stanley, and Samsung, respectively. In the last eleven months since September 2021, Alphabet, the parent company of Google, has invested a staggering $1.5 billion in the blockchain industry.

This puts the tech giant at the top of a list of companies that have invested in blockchain startups the most. According to Blockdata, BlackRock, Morgan Stanley, and Samsung secured the second, third, and fourth spots on the list.

In the period September 2021 to June 2022, 40 companies invested around $6 billion in blockchain start-ups. Despite Alphabet's dominance in terms of capital, Samsung has emerged as the most active investor in blockchain technology.

'Samsung has invested in 13 companies, making it the most active. The next largest investor was UOB, with seven investments, followed by Citigroup with six, and Goldman Sachs with five, Blockdata reported.

According to Sundar Pichai, Google CEO, the blockchain space is 'an interesting, powerful technology with a wide range of applications.'In order to facilitate the purchase of crypto assets, Google Pay has been integrated with crypto firms such as Crypto.Com.

Recent developments have been made by Samsung in the blockchain and crypto sectors as well.

Its smart televisions now feature an 'NFT Aggregation Platform,' letting users browse and buy NFTs directly from the TV set itself. Samsung is also integrating the NFT ecosystem into its latest flagship device, the Galaxy Fold 4.

In spite of its infancy, the blockchain sector has attracted tons of capital from industry giants all over the world.

Block data ranks Goldman Sachs, BNY Mellon, PayPal, Microsoft, Commonwealth Bank, Proses, Tencent, CitiGroup, UOB, Wells Fargo, LG, as well as Americal Express among the top blockchain investors.

A total of $30.2 billion was raised by Web3 companies in 1,313 rounds in 2021, according to analytics firms Messari and Dove Metrics.

A third of the funds raised went into the centralized finance sector, totaling $10.2 billion. Through Ceci, all crypto trading orders are routed through centralized exchanges.

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