Blockchain.com $110M funding round halves its 2022 valuation: Report
Crypto exchange and wallet provider Blockchain.com closed a $110 million Series E financing round, an investment that more than halves its previous 2022 valuation of $14 billion.
In a Nov. 14 blog post , Blockchain.com said the closing of its Series E round was led by the United Kingdom-based venture capital firm Kingsway Capital. It also saw participation from Baillie Gifford, Lakestar and Coinbase Ventures, among others.
A Nov. 14 Bloomberg report citing sources familiar with the matter said the $110 million round places Blockchain.com at less than half of its $14 billion valuation from March 2022.
On March 30, 2022, Blockchain.com closed a funding round that saw its valuation spike from $5.2 billion to $14 billion, less than two months before the collapse of Do Kwon’s Terra ecosystem triggered a liquidity cascade that bankrupted hedge fund Three Arrows Capital (3AC) and a slew of high profile crypto lenders .
Blockchain.com’s March 2022 funding round was led by global venture capital firm Lightspeed Ventures and Baillie Gifford Co. — an investment management firm renowned for its early involvement in growth stocks such as Tesla.
While the new investment saw the firm’s valuation dip, the funding activity hints at a newfound investment appetite for crypto firms, buoyed by a continued uptick in digital asset prices more broadly.
The broader market enthusiasm for crypto assets is tied to multiple pending applications for spot Bitcoin exchange-traded fund (ETF) products from financial firms such as BlackRock and Fidelity .
Bitcoin is currently up 116% in the last year, while other major cryptocurrencies such as Ether and Solana are respectively up 61% and 300% over the last 12 months.
Founded in 2011, Blockchain.com has 37 million verified users with 82 million wallets and over $1 trillion in total transaction value across its platform.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Morgan Stanley’s Institutional Fund reveals exposure to BlackRock’s Bitcoin ETF
![](https://img.bitgetimg.com/multiLang/image/social/12740bb40dfe9179ab0fabfae34d871a1725555781235.jpg)
Bullish on Ethereum? Here’s Why This Layer-2 Meme Is Skyrocketing Past it’s Competitors
![](https://img.bitgetimg.com/multiLang/image/social/0cdd7fe69ecf78700679b9525e52cbd61725553873468.jpg?fit=460,271)
Ether has underperformed bitcoin by 44% since switch to proof-of-stake: CryptoQuant
Ether has underperformed bitcoin by 44% since its switch to proof-of-stake, according to CryptoQuant analysts.The analysts suggest ether could experience further declines due to weaker network activity and growing supply.
![](https://img.bitgetimg.com/multiLang/image/social/19719ea8197eb915e94b2cdd2619c2c91725468166196.jpeg)
Singapore police arrest 3 for teen attack during crypto exchange