Blockchain.com Files for $500 Million IPO at Reduced Valuation

Blockchain.com is planning an initial public offering (IPO) to raise about $500 million, targeting a valuation of $4 billion to $6 billion. This represents a significant reduction from its peak valuation of $14 billion in 2022.

The company filed confidential IPO registration documents with the U.S. Securities and Exchange Commission (SEC) in May, indicating its intention to list on public markets.

Several other crypto companies have recently entered public markets, but their shares have subsequently fallen by as much as 80% from their post-listing highs.