The number of crypto companies in the Forbes fintech list decreased to five
The number of crypto companies on the Forbes fintech list has dropped from nine to five over the year
In 2022, the magazine included nine projects from the digital asset industry in the ranking, this year their number has almost halved
The number of crypto firms on the Forbes Fintech 50 list of leading fintech companies has dropped to five this year. Last year, the number of crypto projects in the ranking was nine, including FTX, the publication notes.
Of this year's five entrants, none of the projects focuses on trading as a core business.
Alchemy, a startup valued at $10.2 billion, operates a data infrastructure that supports many of the leading blockchain games, financial applications, and NFT platforms. Payment giant Stripe, fashion house Gucci and media holding company Fox are new customers of Alchemy in 2022.
Cryptocurrency forensics firm Chainalysis is valued at $8.6 billion. The firm tracks transactions, detects fraud, and investigates hacks related to digital assets. Its clients include banks BNY Mellon and Barclays, as well as the U.S. Internal Revenue Service (IRS) Criminal Investigations Division.
Focused on institutional clients, Fireblocks is an $8 billion service that provides crypto-asset storage services and has begun working with Australian banks ANZ and NAB to launch Stablecoin. Other clients of the project include BNY Mellon and American soccer player Tom Brady's startup Autograph.
Paxos, which launched the BUSD stablecoin for Binance, was valued at $2.4 billion.
TaxBit, a $1.3 billion startup, is a partner of the Internal Revenue Service. The company helps the agency collect taxes from evaders. In addition to the IRS, TaxBit has 45 clients, including PayPal, Kraken, and TurboTax, whose users the startup helps fill out cryptocurrency tax returns. The company also plans to use its crypto-accounting platform, Tactic, to work with Google, Ralph Lauren, and Fox News by tracking digital assets on the company's balance sheets.
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