The crypto sector has been on a roll in 2021 so far and has resulted in the creation of a new class of billionaires and billion dollar companies. While most of the returns of the sector have been rather democratic and spread across millions of people around the world, big companies operating in the space have also benefitted a lot. The number of billion dollar valued companies is now at historic highs and even the latest price tank didn’t make things too bad for them.
The Rise of Crypto 3 Comma Club (Billion Dollar Companies)
The crypto sector’s mushrooming recent mushroom growth has propelled dozens of new companies from millionaire to billionaire status. Most of the current crop of individual billionaires and billion-dollar companies have achieved this coveted financial status during this bull run. Some of these big companies include:
Blockchain.com is among the biggest wallet services provider in the world. It has processed over $800 billion in crypto transactions and continues to get better with time. The company raised more than $300 million in March this year bringing its valuation to a whopping $5 billion. Its main investors include DST Global, VY Capital and Lightspeed Venture Partners.
One of the largest derivatives exchange operating in the sector, Bakkt had a roller coaster earlier existence before investors really started to trust it. It earned a valuation of well above a billion dollars when it was professionally valued at around $2.1 billion after a merger with VPC Impact Acquisition. The exchange is heavily backed by Microsoft and Boston Holdings Group.
Joining this list is the first big Indian crypto startup called CoinDCX. It recently raised more than $90 million in Series C funding round that resulted in its valuation roughly reaching a billion. It has tens of millions of users in India alone and is boasting considerable growth.
FireBlocks raised more than $300 million in Series D funding round just last month raising its valuation to more than $1 billion comfortably. FireBlocks is different from most other companies in this list as it is a crypto and blockchain infrastructure services provider.
OpenSea, one of the pioneering Non Fungible Token (NFT) marketplaces in the world has raised over $100 million last month for a total valuation of $1.5 billion. Considering the NFT sector is just starting to really take off, this could be a big bet for the future.
It is difficult to discuss every crypto unicorn company (value in excess of $1 billion) operating in the sector. However, the rise of these innovative outlets shows us that the sector is booming and is showing no signs of quitting right now.
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