Blockchain.com Secures $110 Million in Funding
Blockchain.com, a cryptocurrency enterprise offering an exchange, blockchain explorer, and non-custodial wallet, has recently secured $110 million in a Series E funding round led by Kingsway. Despite this successful funding round, Blockchain.com’s post-valuation reportedly stands at less than half of its value estimated in 2022.
Investors Show Confidence
The digital assets platform made headlines by securing $110 million in a Series E financing round, with Kingsway taking the lead. Investors such as Coinbase Ventures, Lakestar, Lightspeed Venture Partners, and Baillie Gifford also participated in the funding round.
Valuation and Funding History
Despite the recent injection of funds, Blockchain.com’s post-valuation remains less than half of the $14 billion it received in 2022. The company has received backing from 32 investors, totaling $600 million in funding. It has also made strategic acquisitions and invested in various crypto projects.
Strategic Moves and Partnerships
In response to market dynamics, Blockchain.com discontinued its asset management subsidiary in March 2022 and secured a payment license in Singapore in August. The company also inked a multi-year partnership with the Dallas Cowboys and introduced XRP into its wallet this week.
Hot Take: Blockchain.com’s Future Outlook
Despite the lower valuation than expected, the recent funding round demonstrates investor confidence in Blockchain.com’s future prospects. The company’s strategic moves and partnerships indicate a commitment to growth and innovation within the cryptocurrency industry.
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