Big Tech Behemoths Silently Embracing Crypto & DeFi

Crypto and decentralized finance is not nearly as obscure as many traditional investors will have you believe. On the contrary, DeFi and token technology has been embraced by some of the worlds most innovative companies, if not silently. The original obscurity and nerves by some to get involved have dissipated, but if some worries still remain heres a few behemoths plunging into DeFi whole hog:

Googles parent company Alphabet GOOGLhas been one of the most active investors in cryptocurrencies and DeFi technology. The innovation goliath invested a whopping $1.5 billion into four separate blockchain companies between September 2021 to June 2022. Those investments included digital custody company Fireblocks, venture capital firm Digital Currency Group, the lightning node infrastructure platform Voltage and blockchain video games company Dapper Labs. As a matter of fact, there does not appear to be an alternative investment vehicle in the crypto sphere that Alphabet has not embraced. Ever since Meta, formerly Facebook, unveiled its plan for the so-called metaverse, Alphabet has plowed billions into similarly-related technology. That in itself has opened the door for alternative investments inside the metaverse, like NFTs and digital real estate.

Goldman Sachs GS made history in March this year by becoming the first major US-based bank to complete an over-the-counter cryptocurrency trade. This was a groundbreaking move by a traditional financial institution which has previously remained skeptical of blockchain technology. The trade utilized a non-deliverable Bitcoin-related instrument between itself and cryptocurrency merchant bank Galaxy Digital, a technology-driven firm which provides financial solutions spanning the world of digital assets. One interesting thing to note about Galaxy Digital, is that its founder and current CEO previously worked for Goldman Sachs for 11 years.