Development firms, financial services accounted for more than half of industry PPP loan applicants

A review of data from the U.S. government's Payroll Protection Program found that more than half of the companies that applied for and received funding focused on development or financial services.

The smallest categories include hardware, mining and trading platforms, as the data show.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Like the block before & nbsp;reportedVarious companies in the cryptocurrency and blockchain industry have applied for and received PPP loans to provide financial support to companies dealing with the economic consequences of the coronavirus pandemic. Loan recipients should use the funds to retain employees and support operations. "Data-reactid =" 22 "> As before The Block reportedVarious companies in the cryptocurrency and blockchain industry have applied for and received PPP loans to provide financial support to companies dealing with the economic consequences of the coronavirus pandemic. Loan recipients should use the funds to retain employees and support operations.

The industrial companies identified in the data include the derivative platform LedgerX and the Ethereum blockchain studio ConsenSys. The block applied for and also received a PPP loan. The Block Research analyzed the data behind PPP loans obtained from almost 70 crypto companies.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Read the full breakdown of The Block's PPP data Research Here. "data-reactid =" 24 "> Read the full breakdown of The Block Research's PPP data Here.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "© & nbsp; 2020 & nbsp; The Block Crypto, Inc. All rights reserved. This article is for informational purposes only. It is not offered or used as legal, tax, investment, financial or other advice."data-reactid =" 26 ">© 2020 The Block Crypto, Inc. All rights reserved. This article is for informational purposes only. It is not offered or used as legal, tax, investment, financial or other advice.



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