Forbes, which is famous for listing the richest people in the world, has announced the list of the 50 largest fintech companies of 2023. Only the companies behind 2 altcoin projects managed to take part in the list.
These 2 altcoins made it to the Forbes ‘Top 50’ list
Forbes released its list of the biggest Fintech companies of 2023 on June 6th. 5 crypto companies were selected in this category. Their crypto representatives included Web3 developer platform Alchemy and Chainalysis, a Blockchain data tracking platform.
According to the listing, Alchemy’s last valuation is $10.2 billion. On the other hand, Chainalysis, which has increased its active customer base from 900 at the end of 2021 to 1,082 by the end of 2022, has $8.6 billion in financing. Meanwhile, at one of the listed companies, Fireblocks, Jay Clayton, a former Ripple employee, is serving as a consultant.
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Forbes’ analysis of Alchemy and Chainalysis
According to Forbes’ report, “Alchemy, a data infrastructure startup that powers today’s largest blockchain-based games, financial applications and NFT platforms, is often referred to as crypto’s Amazon Web Services. In 2022, payments giant Stripe acquired fashion retailer Gucci and broadcaster Fox as new customers.”
The report also highlighted the investment Alchemy has received from major companies. Accordingly, Alchemy has raised $529 million from Andreessen Horowitz, Lightspeed Venture Partners, Coatue, and others. Alchemy also “moved annual crypto transactions to $150 billion, up from $105 billion in February 2022.”
chainalysis
Chainalysis uses Blockchain data to track transactions and identify scams and hacks involving cryptocurrencies. Its clients include financial institutions such as BNY Mellon and Barclays. Also, government agencies such as the Criminal Investigation division of the Internal Revenue Service are among Chainalysis users. In June 2022, Chainalysis launched a quick response service for organizations targeted by a cyberattack or unauthorized network breach involving a cryptocurrency theft or solicitation.
GIC, Paradigm and Accel are among the investors who provided $535 million in financing to the company. According to the report, Chainalysis “increased its active customer base from 900 at the end of 2021 to 1,082 by the end of 2022.” In the meantime, it has expanded to more than 70 countries.
The five companies that made up the 2023 list included the following companies:
- Web3 developer platform Alchemy
- Blockchain data tracking platform Chainalysis
- Cryptocurrency custody service Fireblocks
- Blockchain infrastructure provider Paxos
- Tax software company TaxBit
How is the altcoin market?
As Cryptokoin.com reported, the altcoin market is currently shaken by the second lawsuit. The SEC filed the same lawsuit against Binance and its executives on June 5 at Coinbase. With the latest development, losses in the market reached double digits.
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