Blockchain.com, a London-based firm that provides a variety of cryptocurrency services to retail and institutional clients, raised $300 million in a deal that highlights venture capitals growing willingness to jump back into the bitcoin frenzy.<\/p>\n
The investment round gave the company a $5.2 billion valuation and was led by DST Global, Lightspeed Venture Partners and VY Capital. It comes just one month after the company raised $120 million in a funding round that valued it at $3 billion.<\/p>\n
Blockchain.com has 31 million verified users across 200 countries and 70 million digital wallets, or software used to store bitcoins. The firm offers retail trading and a range of services for professional investors like credit, structured products, trading and custody. Between debt and equity, the company has raised $1.5 billion since its inception in 2011, according to Chief Executive Peter Smith.<\/p>\n
It is a significant amount for a crypto company. The latest capital raise is the third-largest in the industrys short history, according to research firm CB Insights. In 2018, Bitmain Technologies raised $400 million. Earlier this year, BlockFi raised $350 million and in 2020, Bakkt raised $300 million.<\/p>\n
Capital raising also stagnated over the past few years as bitcoins price fell from its 2017 highs and remained down. After raising $4.5 billion in 2018, deals have declined to $2.7 billion in 2020. Their re-emergence this year, with three of the six largest to date coming in 2021, is spurring hopes that private investors are returning.<\/p>\n
<\/p>\n
Read the rest here: Blockchain.com, a London-based firm that provides a variety of cryptocurrency services to retail and institutional clients, raised $300 million in a deal that highlights venture capitals growing willingness to jump back into the bitcoin frenzy. Continue reading
\nBlockchain.com Raises $300 Million as Investors Find Other Ways Into Bitcoin - The Wall Street Journal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"