Major finance and tech firms are pouring money into startups building technology...
LONDON - Major finance and tech firms are pouring money into startups building technology to develop the crypto market, even though they’re steering clear of the volatile currencies themselves.
Such bets, by companies including London Stock Exchange Group and Microsoft Corp, spiked over five-fold to a record $2.4 billion over 117 investments in 2018. This suggests large companies see promise in the nascent technology, even as it struggles for acceptance. Bitcoin slumped by three-quarters last year after nearing a record of $20,000 in its frenzied 2017 bubble. It’s still prone to wild price moves, underscored by a recent 20 percent jump that caused puzzlement among traders and analysts.
“There are two dynamics at play,” he said. “We can get something up and running and achieve cost savings, and also look longer term at ways of deploying the technology in more transformative ways.” “People are really enamored by tokenisation - the ability to produce coins or other forms of value - so that’s where we see all of the action at the moment,” said Anton Ruddenklau, global co-head of fintech at KPMG.Bets involving corporate venture capital are usually small, the data shows. Deals this year had a median value of $6.5 million, a notch below the $8 million of last year.
Cryptocurrency miners and exchanges make up the four biggest VC-backed firms by valuation, according to the PitchBook data.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Reed Hastings says Netflix has 'no big appetite, no big need' for mergersHollywood has seen some big deals of late and more could be on the way. But count Netflix out for now, Hastings said.
Weiterlesen »
Financial stocks getting a big boost after J.P. Morgan Chase, Wells Fargo earnings beatsFinancial stocks are on track for a broad rally Friday, as better-than-expected first-quarter earnings reports from sector heavyweights J.P. Morgan Chase...
Weiterlesen »
A deadly storm system now threatens 90 million people with destructive weather -- including major citiesThe massive storm system that killed several people from Texas to Mississippi is now barreling east, threatening to spawn tornadoes and other catastrophic weather from New England to the Gulf Coast.
Weiterlesen »
5 takeaways from the 1st major fundraising reports of the 2020 presidential raceA look at Trump's financial advantage, Democrats who have raised the most money and celebrity support, like actor Reese Witherspoon and Twitter's Jack Dorsey.
Weiterlesen »
No major bank CEO thinks a female or person of color is likely to succeed themNo major bank CEO thinks a female or person of color is likely to succeed them. The CEOs answered the question during a Congressional hearing on Wednesday.
Weiterlesen »
Major banks raise China growth forecasts after surprise GDP numbers — some are still cautiousChina's better-than-expected first quarter GDP growth is spurring economists at Citi, Barclays and ING to raise their growth forecasts for this year, though other analysts are holding off for now.
Weiterlesen »
Pete Buttigieg has everything except positions on major issuesColumnist DoyleMcManus writes: 'Pete Buttigieg, the 37-year-old mayor of South Bend, Ind., could turn out to be the biggest, boldest surprise of the 2020 presidential campaign. But he’d better come up with some policies first.'
Weiterlesen »
Tiger Woods wins Masters for fifth time to end his major title droughtTiger Woods is back to being Tiger Woods. Just over two years after a back injury threatened to end his career Woods won the Masters on Sunday to win his first major tournament in nearly 11 years.
Weiterlesen »
Popular Android Apps From A Major Chinese Developer Were Caught Committing Ad FraudFollowing a BuzzFeed News investigation, Google blacklisted six apps from its advertising services and eventually removed them from the Play app store.
Weiterlesen »
Major severe storms, tornado outbreak in Deep South killed 2 kidsA 3- and 8-year-old were trapped inside a car that was crushed by a tree and was pronounced dead on the scene, police said.
Weiterlesen »