Titans of Crypto
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Crypto Then & Now
Bitcoin, the most ubiquitous cryptocurrency, originated during the 2008 financial crash amidst the popular anti-establishment ideology of the day. In the years since aspects of a utopian ideology for the digital monetary system still exist but have also been co-opted by many of the Wall St. tastemakers it sought to undo. The following companies represent the most well-funded and institutionally palatable examples of crypto-related private companies.
| Company | Total Funding | Description |
|---|---|---|
| FTX Exchange | $1.7BN | Crypto Trading |
| Figure Technologies | $1.5BN | Crypto-Backed Mortgage Lender |
| Fireblocks | $1.4BN | Digital Asset Platform for Institutions |
| NYDIG | $1.4BN | Bitcoin Financial Services |
| Forte | $939MM | NFT & Game Tokens |
Crypto makes it mainstream
As long as cryptocurrencies and DeFI (decentralized finance) have been around, there have been naysayers and true believers, with equally strong convictions. Rather than being backed by a Federal agency, the currency's value actually depends on that balance of supply and demand; the more people who buy into the currency, the higher its value.
With the onslaught in recent years of media attention, the rise of amateur trading brought on by the pandemic, and an influx of cash from venture capitalist crypto believers, it seems that the scale has been tipping. The price of Bitcoin hit 7x its pre-pandemic value before we descended into the "crypto winter" of recent months.