Forbes Fintech 50: Despite the crypto winter, the number of crypto companies listed in Forbes Fintech 50 2022 is more than in the past year.
Another Web3 record broken. There are 9 companies focused on crypto that have been included in the Forbes Fintech 50 2022 list.
This number surpasses the 8 crypto companies in the Forbes Fintech 50 2021 list of last year.
Collectively, the 9 crypto companies that are included in the Forbes Fintech 50 list this time have raised a total funding of around $6.5 billion from various investors. Most of the investment injections came in the last 12 months.
The list of crypto companies included in this list include FTX, OpenSea, Alchemy, Ava Labs, Circle Internet Financial, Chainalysis, Fireblocks, Paxos, and TRM Labs.
In comparison, a total of 8 crypto companies that were included in the Forbes Fintech 50 2021 list in total raised funding of around $1.7 billion. The crypto companies that were included in the list at that time included Alchemy, Anchorage, BlockFi, Chainalysis, Fireblocks, Gemini, Kraken, Paxos.
The List
The Forbes Fintech 50 is an honorary list for the most innovative private companies in the world of financial technology (fintech).
Regarding the increasing number of crypto companies on the Fintech 50 list this year, Forbes noted that crypto supporters are now adjusting to the reality of a market that is bearish or experiencing a downward trend. Forbes thinks that small victories like this must be maintained.
Forbes Fintech 50 First 5
First, there is the FTX crypto exchange led by Sam Bankman-Fried, which managed to pocket a total funding of $1.8 billion from Sequoia, Temasek, Thomas Bravo, among others. It has a valuation of $32 billion.
Second, the non-fungible token (NFT) marketplace OpenSea received $423 million in funding from Andreessen Horowitz (a16z), Paradigm, and Haun Ventures, among others. It has a valuation of $13.3 billion.
Third place was filled by web3 infrastructure provider Alchemy with a total funding of $413 million from a16z, Silver Lake, Lightspeed Venture Partners, and others, with a valuation of $10.2 billion.
Fourth place is occupied by the creator of the Avalanche blockchain, Ava Labs. Forbes does not share the valuation of Ava Labs, but estimates that the market cap or market capitalization of avalanche token’s native AVAX is $8.5 billion.
Fifth is Circle Internet Financial, the entity behind the stablecoin USD Coin (USDC). It made the list by raising $1.5 billion in funding from BlackRock to Fidelity. It has a valuation of $9 billion.
Forbes Fintech 50 Last 5
Sixth, Chainalysis offers crypto investigation and compliance services. It managed to raise $535 million in funding from Coatue, Paradigm, Accel and others. It has a valuation of $8.6 billion.
Seventh, Fireblocks is an institution-focused crypto custodian company. It reaped an investment injection of $1.2 billion from BNY Mellon, Coatue, Ribbit Capital, and others. It has a valuation touching $8 billion.
Eighth is Paxos. It is a blockchain infrastructure platform that supports crypto buying and selling services in Venmo and PayPal. Paxos received $540 million in funding from the Founders Fund and a number of other investors. It has a valuation of $2.4 billion.
In ninth place is TRM Labs. They are backed by Blockchain Capital and Tiger Global with an investment injection of $80 million. The company helps government agencies investigate money laundering, crypto fraud, as well as other financial crimes by analyzing blockchain data.
Interestingly, TRM Labs is the only crypto company on the Forbes Fintech 50 2022 list whose valuation has only reached $600 million, meaning it has not yet reached unicorn status.
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