Transform Ventures Co-Invests in Alpha Transform Holdings to Accelerate Blockchain Investment

Alpha Transform Holdings (ATH) is a newly formed holding company that has been formed as a result of a partnership between Transform Ventures and the parent company of Alpha Sigma Capital. The primary objective of this new holding company is to quicken the pace of investment and innovation within the blockchain ecosystem. The merger will result in the combination of certain assets held by both firms, leading to the formation of two new funds with a combined asset base of one hundred million dollars.

According to Enzo Villani, CEO and Chief Investment Officer of Alpha Transform Holdings, the vision of ATH is to usher in a new era of financial and technological innovation by leveraging decentralization, blockchain technology, and Web3 infrastructure. This will be accomplished by bringing in a new era of financial and technological innovation.

ATH received an investment of $2.65 million in cash, Bitcoin (BTC), and Ether (ETH) from Transform Ventures, which was created by cryptocurrency investor Michael Terpin. The company also retained the option to invest an additional $2.9 million. Terpin had earlier filed a lawsuit against a New York teenager, demanding $71.4 million in damages for the alleged theft of bitcoin from the defendant’s phone.

Alpha Transform Holdings is primarily concerned with the delivery of product suites that fall under the asset management umbrella, the development of Alpha Transform products, and the execution of Alpha Transform strategies. ATH’s dedication to fostering blockchain innovation is shown by the company’s emphasis on the delivery of a wide variety of goods and strategies relating to blockchain technology.

Although if blockchain innovation continues to attract large investors and venture capitalists, there has been a rise in the number of investors expressing a negative emotion about the technology, which has led to an increase in the amount of money leaving the market. The introduction of Alpha Transform Holdings, which has a considerable amount of assets under management, is a good step for the blockchain ecosystem. Its launch should offer a boost to blockchain investment as well as blockchain innovation.


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55% of world’s top-100 banks reportedly have crypto and blockchain exposure

Global banking giants are reportedly increasing their involvement in the emerging crypto and blockchain firms by way of early and late-stage funding for projects and businesses in the industry.

According to research by Blockdata, a blockchain market intelligence outfit, 55 out of the top-100 banks by assets under management (AUM) have some form of exposure to the novel tech. This involvement reportedly cuts across direct and indirect investments in crypto and decentralized ledger technology firms by the bans themselves or via their subsidiaries.

Blockdata’s research places Barclays, Citigroup and Goldman Sachs among the most active backers of crypto and blockchain firms with JPMorgan and BNP Paribas also identified as serial investors in the emerging space.

These investments are part of a larger trend of significant backing for blockchain startups with funding figures already double the amount recorded in 2020, according to a KPMG report.

The research also shows crypto custody as a major focus point for banks delving into the crypto space. Indeed, almost a quarter of the top-100 banks by AUM are either developing crypto custody solutions or are backing startups that offer custodial services for digital assets.

Indeed, as previously reported by Cointelegraph, several banks in the United States, Asia and Europe are building crypto custody platforms as part of their preliminary foray into cryptocurrencies.

Related: Cryptocurrency custody gives commercial banks a foothold in the market

Blockdata attributed the growing crypto and blockchain involvement among banks to three main factors — skyrocketing profits of cryptocurrency startups, regulatory advancements and the increasing demand among bank customers for exposure to digital assets.

Back in May, NYDIG president Yan Zhao stated that the massive revenues of crypto trading giants like Coinbase was making banks re-examine their initial reticence towards cryptocurrency involvement.

This massive revenue potential is despite the significantly smaller teams working for these major crypto companies.

At $58.09 billion as of the time of writing, Coinbase sits on a valuation almost half that of Goldman Sachs, the 13th largest bank in the world despite employing only about 4% of the latter’s workforce.