Share this article
Blockchain.com Closes $110M Raise: Bloomberg
The exchange's valuation in the $110 million round was less than half of its previous $14 billion valuation, according to the report.
Nov 15, 2023, 5:19 a.m.
Make us preferred on Google
Crypto exchange and wallet provider Blockchain.com has closed a $110 million raise, valuing the company at less than half of its previous $14 billion, according to a Bloomberg report.
The Series E was led by U.K.-based Kingsway Capital with participation from Lakestar, Lightspeed Venture Partners, and Coinbase Ventures.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Neither Kingsway nor Blockchain.com responded to a request for comment from CoinDesk by press time.
In January, the exchange had laid off 28% of its workforce, according to a report.
Last year, Bloomberg reported that Blockchain.com was looking to raise another round at a valuation of $3 billion-$4 billion. However, the exact valuation for the Series E was not confirmed.
Since this time, asset prices have significantly recovered. Bitcoin spent most of October 2022 under $20,000, and now it's trading above $35,000, according to CoinDesk Indices data.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Circle faces first major 'threat' for institutional dollars from Tether’s USAT
While Circle's USDC has operated without a "credible domestic competitor," Tether's USAT has the potential to shake up the landscape, analysts said.
What to know:
- Analysts said USAT, the U.S.-focused stablecoin by Tether, could become the first credible domestic competitor to Circle's USDC token.
- USAT is "a threat to USDC" and could gain an edge through institutional partners and global USDT connectivity, Crypto is Macro Now's Noelle Acheson said.
- ClearStreet's Owen Lau called USAT “a manageable risk” for Circle, and noted potential "cannibalization" risk between Tether's two tokens.
Top Stories
