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.
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.
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.
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
