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Blockchain.com Valuation Soars To $14B After Latest Funding Round -Breaking

by Mike Robinson

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© Reuters. Blockchain.com Valuation Soars To $14B After Latest Funding Round
  • Blockchain.com has raised funding to support its valuation of $14 billion
  • According to Bloomberg, the latest funding round was led by the global venture capital firm, Lightspeed Ventures, and Baillie Gifford & Co.
  • In other news, Blockchain.com has joined the list of companies withdrawing from the UK Financial Conduct Authority’s (FCA) temporary register for cryptocurrency asset licensing.

Blockchain.com, a crypto exchange and financial service firm has been reported to have raised $14 billion in new capital.

According to Bloomberg, the latest funding round was led by the global venture capital firm, Lightspeed Ventures, and Baillie Gifford & Co., which is an investment firm renowned for its early involvement in growth stocks, such as Tesla (NASDAQ:).

Although not yet publicly confirmed by Blockchain.com or investors, the funding round reportedly saw the firm’s valuation increase more than $8 billion, from $5.2 billion to $14 billion. Unconfirmed is the amount raised in total.

Blockchain.com is currently one of the world’s largest cryptocurrency companies. The company was founded in 2011 and offers many blockchain-based services, including an exchange platform, crypto wallets, and institutional products.

The firm’s last major funding round prior to the Series C round took place back in March 2021, and saw the firm raise $300 million in Series C funding at a $5.2 billion valuation. DST Global and Lightspeed Venture Partners led the funding round. VY Capital was also involved.

In other news, Blockchain.com has joined the list of companies withdrawing from the UK Financial Conduct Authority’s (FCA) temporary register for cryptocurrency asset licensing.

The register outlines that firms must be approved under an anti-money-laundering (AML) scheme or cease trading by 31 March, 2022.

Blockchain.com pulled its application from the UK on March 29, 2022. Instead, it opted to open an office in Europe through a Lithuanian registration. BC2C (an institutional crypto trading company) also withdrew their application from the UK.

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