Cryptocurrency change and monetary companies agency Blockchain.com has denied makes an attempt to promote property or subsidiaries, and it isn’t in talks with different crypto corporations about potential offers, a spokesperson advised Cointelegraph on Feb. 18.
In accordance with experiences citing nameless sources, executives of the corporate mentioned promoting elements of its enterprise to different crypto corporations – together with Coinbase – between December and January. Blockchain.com refutes the rumors:
“No Blockchain.com companies are on the market. Blockchain.com is an asset purchaser, not a vendor.”
The corporate, nevertheless, has been engaged on elevating extra capital for its operations since October 2022, even at a major low cost to earlier valuation. On the time, the spherical was anticipated to end in a $3 billion to $4 billion valuation, reveals a Bloomberg report. The potential spherical would assist Blockchain.com to navigate amid the crypto bear market.
Blockchain.com does not deny the efforts to lift capital, however disputes claims about promoting property. The corporate’s enterprise arm not too long ago exited an 80% place at PolySign, a startup engaged on infrastructure for monetary establishments.
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About 110 staff from Blockchain.com, or 28% of its workers, had been laid off in January, just some months after the corporate downsized its headcount by 150 in July 2022 following a lack of $270 million on loans made to the bankrupted hedge fund Three Arrows Capital (3AC).
Blockchain.com claims to have over 37 million verified purchasers utilizing 86 million wallets, and presence in 200 nations. In March 2022, the corporate secured a brand new funding led by international enterprise capital agency Lightspeed Ventures and funding administration agency Baillie Gifford & Co, bringing its valuation to $14 billion from $5.2 billion.
Earlier funding features a $300 million Sequence C spherical in March 2021 led by DST International Companions, Lightspeed Enterprise Companions and VY Capital, in addition to $120 million from a big selection of enterprise capital corporations.
