Blockchain.com Seeks $6 Billion Valuation in IPO as Crypto Rallies

Blockchain.com is in talks with potential investors, and the details could change. The company declined Bloomberg’s request for comment, according to the report.

Blockchain.com announced in May that it had confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission for an IPO.

“The number of shares to be offered and the price range for the proposed offering have not yet been determined,” the company said at the time in a press release. “The initial public offering is subject to market and other conditions and the completion of the SEC’s review process.”

Blockchain.com announced in November 2023 that it raised $110 million in a Series E funding round. Bloomberg reported at the time that the financing valued Blockchain.com at less than half the $14 billion it reached in 2022. That drop followed a downturn in the crypto market.

According to Monday’s Bloomberg report, the claims about Blockchain.com’s plans for an IPO come at a time when the crypto market appears to be recovering after the price of bitcoin began plummeting about a year ago. Since mid-August, bitcoin is up 33%.