Blockchain.com Aims for $4B-$6B Valuation in Cryptocurrency Market Recovery

Crypto services company Blockchain.com is moving forward with plans to go public this year. The company aims to raise about $500 million in its initial public offering (IPO) and secure a valuation of between $4 billion and $6 billion, according to Bloomberg.

The development comes at a time when the crypto market appears to be recovering after a downturn that saw the price of Bitcoin plummet last year. Since mid-August, Bitcoin has increased by 33%.

Blockchain.com's plans for an IPO were first announced in May, when it submitted a draft registration statement with the Securities and Exchange Commission (SEC). The company declined to comment on the report.