The Largest Investor In Crypto Startups Is Actually A "FAANG" Stock You Know

Alphabet Inc GOOGL 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 BTC/USD Lightning Network Voltage; and digital asset venture fund Digital Currency Group. 

After Alphabet, BlackRock Inc 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 USDC/USD stablecoin issuer Circle, crypto exchange FTX and digital asset platform infrastructure provider Anchorage Digital. 

Wall Street banking giant Morgan Stanley 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 ETH/USD 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.

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