Blockchain.com Eyes $5B+ Valuation in Confident U.S. IPO Bid

Blockchain.com is exploring a U.S. initial public offering (IPO) that could raise around $500 million, marking a significant move in the crypto market's recovery. The exchange and wallet provider is considering a valuation between $4 billion and $6 billion, which is lower than its previous peak of $14 billion reached during the 2022 crypto boom.

The company filed confidential draft registration documents with the U.S. Securities and Exchange Commission (SEC) in May but did not disclose the number of shares or a potential price range. This development comes as crypto capital markets show signs of reopening after a broader market recovery began last month.

Crypto companies listed recently have seen their shares trade about 50% to 80% below their post-IPO highs, highlighting the uneven conditions in the market.