Blockchain.com Prepares for IPO Amid Crypto Market Recovery

Blockchain.com, one of the oldest cryptocurrency companies, plans to go public through an initial public offering (IPO) as early as this year. The company is targeting a valuation of between $4 billion and $6 billion in the offering, aiming to raise about $500 million. This move comes as the crypto market begins to recover from last year's decline.

The recovery has seen Bitcoin rise by around 33% since mid-August, after a sharp drop roughly a year ago. Several other crypto-related companies have already gone public in recent months, including Gemini and Bullish.

However, investors who bought shares in these companies during the previous IPO wave have suffered significant losses. Gemini shares have fallen by more than 80% since listing, while eToro has lost about 50%. Blockchain.com has also filed for an IPO earlier this year with the U.S. Securities and Exchange Commission.

The company's parent company, Payward, is also considering going public, but preparations for its IPO have slowed, and the debut could be pushed back to 2027.