Blockchain.com Aims for $4B-$6B Valuation in Crypto Market Revival

Blockchain.com is reportedly planning to go public through an initial public offering (IPO) that could raise around $500 million. The company, which operates a crypto exchange and wallet provider, was valued at $14 billion in 2022 but is now seeking a valuation of between $4 billion and $6 billion.

The move comes as capital markets begin to reopen for crypto companies after the market recovery that started last month. Bitcoin has climbed more than 30% since mid-August, when the US Treasury announced it would significantly increase buybacks of long-dated government debt. However, shares of recently listed crypto companies Gemini, BitGo and eToro are still down roughly 50% to 80% from their post-IPO highs.

The company confidentially filed draft registration documents with the US Securities and Exchange Commission in May, paving the way for a potential IPO. Blockchain.com is open to a smaller offering if needed to complete a public listing.