Blockchain.com Seeks New Funding at $4 Billion Valuation – 70% Decline From Previous Round
Source: AdobeStock / prima91 Major crypto company Blockchain.com is allegedly in talks over down-round fundraising that could see its valuation slashed by more than 70%. The crypto exchange reportedly aims to raise funds at a fraction of the $14 billion valuation it achieved earlier this year, Bloomberg reported Thursday, citing 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," the report said. While nothing has been locked down and talks to raise money are still preliminary, the digital asset company is likely to raise funds at a valuation of $3 billion to $4 billion, down by more than 70% compared to its latest fundraising round. In late March, Blockchain.com reached a $14 billion valuation in a Series D funding round led by Lightspeed Venture Partners. While the compan...