Forbes recently released its list of the top 50 financial tech companies in the world. Nine of them come from the cryptocurrency industry.
In 2021, as the global health crisis pushed online shopping and banking further up and the price of bitcoin and tech stocks soared, crypto investors and venture capitalists allocated more money in fintech.
According to a survey by CB Insights, the total global investment in this sector is $132 billion. This amount is almost three times the $49 billion in last year’s budget.
Today, despite the pandemic raising its ugly head amid the crypto winter, there are more crypto companies on Forbes’ list of the top 50 fintech companies for 2022 than it was a year ago.
Reading Tips | Research shows that over 90% of US companies accept crypto record sales growth
9 Crypto Firms to Make the Forbes Fintech 50 List in 2022
This year’s Forbes Fintech 50 list features a record nine cryptocurrency-focused companies – the honor roll of the most progressive private fintech startups.
According to the business publication, nine crypto companies raised a total of $6.5 billion in venture funding. A major part of this has happened in the last one year.
Last year, when bitcoin reached over $68,000, crypto companies saw a wave of new customers. Forbes’ 2022 list includes four new crypto and blockchain giants.
FTX secures $1.5 billion in private capital and is valued at $32 billion, according to Forbes (Forkast News).
Sam Bankman-Fried’s FTX is at the forefront of the pack
According to Forbes, cryptocurrency exchange FTX, founded by billionaire Sam Bankman-Fried, leads the pack in securing $1.5 billion in private capital and is valued at $32 billion.
In the context of the increasing number of crypto startups on the Fintech 50 list this year, said Forbes, crypto enthusiasts are increasingly adjusting to negative or falling market realities. Forbes believes such gains should persist.
OpenSea, which ranks second on this list, has become the go-to exchange for buying and selling NFTs, completing over $3 billion in transactions per month.
(Source: BeInCrypto/Forbes)
Alchemy, Ava Labs, Circle, Other Round of the List
In third place is Alchemy, a Web3 infrastructure provider with total funding of $413 million from Andreessen Horowitz, Lightspeed Venture Partners, Silver Lake and others. Alchemy has a market cap of $10.2 billion.
Ava Labs, developer of the Avalanche blockchain, comes in at number four. Forbes does not disclose the market capitalization of Ava Labs, but the company’s native cryptocurrency AVAX is estimated to be valued at around $8.5 billion.
Crypto total market cap at $1.21 trillion on the daily chart | Source: TradingView.com
Circle Internet Financial, the company behind the stablecoin USD Coin, ranks fifth. BlackRock and Fidelity have provided $1.5 billion in funding to Circle Financial to enter the list. Circle has a market value of $9 billion.
With a combined market cap of about $20 billion, Chainalysis, Fireblox, Paxos, and TRM Labs are ranked sixth to ninth.
Reading Tips | The crypto industry shows some love to the new ‘industry-friendly’ bill that regulates digital assets
Featured image from YouTube, chart from TradingView.com