Cryptocurrency News

Goldman Sachs Backs $28M Funding Round for Blockdaemon

Goldman Sachs has backed a $28 million Series A funding round for blockchain infrastructure firm Blockdaemon.

The funding was led by Greenspring Associates and included a $5 million investment from Goldman Sachs, along with participation from crypto lending firm BlockFi, and crypto-asset broker Voyager Digital Ltd.

Goldman Sachs is an American multinational investment bank with a net worth of $131 billion. The banking giant appears to have been paying a lot of attention to crypto lately. In May, Goldma led a $15 million investment round in Blockchain analytics firm Coin Metrics, and also launched bitcoin derivatives Same month trading for institutional clients.

Blockdaemon Provides staking and node infrastructure For institutional clients such as Goldman Sachs. According to the firm, it has averaged over $5 billion in assets over the past 12 months and anticipates the figure to reach over $50 billion by the end of 2021.

the firm provides contagion ETH 2.0 for institutional clients, Bitcoin, Polkadot, and various protocols through the Blockdaemon marketplace for networks such as Dfinity and Near.

According to the June 8 announcement, Blockdaemon will Use Funding to expand node infrastructure services and acquire new staff members and developers. Ollie Harris, head of digital assets at Goldman Sachs, said:

“We are excited to partner with them as they continue to provide institutional-grade blockchain technology to all who wish to take advantage of it.”

Despite the investment bank’s hotness for crypto through exposure and expanded services, the firm has taken a vague approach to crypto in the media.

Cointelegraph reported on 8 June that Goldman Sachs published a Survey It found that among 25 CIOs of Asian hedge funds, bitcoin was the least preferred investment category.

Earlier this month, the global head of Commodity Research at Goldman SachsIn this article, Jeff Curry shut down claims of bitcoin being “digital-gold” when he described bitcoin as a “risk-on” asset similar to copper.

However in May, Goldman Sachs analyst Will Nance claimed that investing in Coinbase stock was the best approach. Gain exposure to the crypto market And avoid its volatility after the recent crypto meltdown.