Blockchain.com Gets More Funding Despite Tough Crypto Market
- Company said in March that it was valued at about $14 billion
- Crypto venture funding hit more than one-year low last quarter
Advertisements for Blockchain.com during the CoinDesk 2022 Consensus Festival in Austin, Texas.
Photographer: Jordan Vonderhaar/BloombergCrypto exchange Blockchain.com said Friday that it had raised fresh funding in a strategic financing round led by UK-based investment firm Kingsway Capital, as firms throughout the industry take steps in a difficult environment to withstand the headwinds caused by this year’s downturn.
The round, which also included investment from Baillie Gifford and Lightspeed Venture Partners, closed during the third quarter at a time when venture investing in crypto startups fell to its lowest level in more than a year. Blockchain.com declined to disclose the funding amount or its valuation. The company previously raised capital at a $14 billion valuation in March in a round that included Lightspeed Venture Partners and Baillie Gifford.