Crypto alternate and pockets supplier Blockchain.com closed a $110 million Sequence E financing spherical, an funding that greater than halves its earlier 2022 valuation of $14 billion.
In a Nov. 14 weblog post, Blockchain.com mentioned the closing of its Sequence E spherical was led by the United Kingdom-based enterprise capital agency Kingsway Capital. It additionally noticed participation from Baillie Gifford, Lakestar and Coinbase Ventures, amongst others.
A Nov. 14 Bloomberg report citing sources accustomed to the matter mentioned the $110 million spherical locations Blockchain.com at lower than half of its $14 billion valuation from March 2022.
On March 30, 2022, Blockchain.com closed a funding round that saw its valuation spike from $5.2 billion to $14 billion, lower than two months earlier than the collapse of Do Kwon’s Terra ecosystem triggered a liquidity cascade that bankrupted hedge fund Three Arrows Capital (3AC) and a slew of high profile crypto lenders.
Blockchain.com’s March 2022 funding spherical was led by world enterprise capital agency Lightspeed Ventures and Baillie Gifford & Co. — an funding administration agency famend for its early involvement in progress shares equivalent to Tesla.
Whereas the brand new funding noticed the agency’s valuation dip, the funding exercise hints at a newfound funding urge for food for crypto corporations, buoyed by a continued uptick in digital asset prices extra broadly.
The broader market enthusiasm for crypto property is tied to multiple pending applications for spot Bitcoin exchange-traded fund (ETF) merchandise from monetary corporations such as BlackRock and Fidelity.
Bitcoin (BTC) is at the moment up 116% within the final 12 months, whereas different main cryptocurrencies equivalent to Ether (ETH) and Solana (SOL) are respectively up 61% and 300% during the last 12 months.
Based in 2011, Blockchain.com has 37 million verified customers with 82 million wallets and over $1 trillion in whole transaction worth throughout its platform.