US Government Allocates Over $30M to Crypto Companies
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July 7, 2020

Major blockchain companies operating in the US have received over $30M as part of the Paycheck Protection Program (PPP), according to the Small Business Administration.

The PPP is included in the stimulus package approved by the US Congress. Participants in the program receive loans to keep their employees' salaries during the coronavirus pandemic.

The new list includes more than 75 blockchain and crypto companies that have received over $30M in total. The exact amount each company has been allocated has not been revealed.

However, ConsenSys has reportedly received one of the highest sums: between $5M and $10M in April.

In addition, some small companies such as derivatives exchange LedgerX, Ethereum wallet MyEtherWallet, Cardano maker IOHK, Celsius Network and Polychain Capital, have also received funds.

The beneficiaries have received at least $150,000.

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