Blockchain.com Plans $500 Million IPO at Up to $6 Billion Valuation
The crypto exchange and wallet provider is targeting a valuation of $4 billion to $6 billion and may reduce the offering size if needed.
Blockchain.com plans to raise about $500 million through an initial public offering this year, targeting a valuation of $4 billion to $6 billion as the crypto platform moves toward a potential U.S. listing.
The company, which operates a cryptocurrency exchange and wallet service, may reduce the offering size if necessary to complete the listing. It filed IPO registration documents confidentially with the U.S. Securities and Exchange Commission in May.
Blockchain.com was valued at $14 billion in 2022. The proposed valuation range would therefore represent a substantial reduction from that peak.
Several crypto companies have recently entered public markets, with shares of Gemini, BitGo and eToro later falling about 50% to 80% from their post-listing highs.
