Blockchain.com Said to Be in Funding Talks at Shrunken Valuation
- Crypto exchange was valued at $14 billion as of early 2022
- Current round may result in $3 billion to $4 billion valuation
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Blockchain.com, stung by the crypto bear market that has rocked the industry, is in talks over a potential “down round” fundraising that may value the digital financial-services firm at a fraction of the $14 billion mark it achieved earlier this year, according to people with knowledge of the matter.
The fundraising would follow strategic financing the company obtained in the third quarter at an unspecified valuation from investors led by UK-based investment firm Kingsway Capital. In March, Blockchain.com said it completed a round that more than doubled its estimated worth to $14 billion and included investors Baillie Gifford and Lightspeed Venture Partners.