TechFlow news, according to Reuters, Alphabet, the parent company of Google, has reduced its stake in Robinhood by nearly 90%. In a filing submitted to regulators, Alphabet stated that as of June 30, it held approximately 612,214 shares in Robinhood, down from 4.9 million shares as of March 31 at the end of the first quarter.
Previously reported, according to research released by Blockdata, Alphabet invested a total of $1.56 billion in blockchain companies across four funding rounds between September 2021 and June 2022, leading among publicly traded companies investing in the sector.
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