Feb 20, 2023
Blockchain.com Denies Selling Assets or Subsidiaries
Blockchain.com, a leading provider of cryptocurrency exchange and financial services, has denied recent reports that it is selling assets or subsidiaries. The company is not in talks with other crypto firms about possible deals, a spokesperson told Cointelegraph on Feb. 18.
The company has been actively looking for additional capital for its operations since October 2022. This potential round was expected to result in a $3 billion to $4 billion valuation, according to a Bloomberg report.
Blockchain.com recently exited an 80% position at PolySign, a startup working on infrastructure for financial institutions. The company also laid off 28% of its staff in January, just a few months after downsizing its headcount by 150 in July 2022.
Blockchain.com has over 37 million verified clients using 86 million wallets and a presence in 200 countries. In March 2022, the company secured new funding led by global venture capital firm Lightspeed Ventures and investment management firm Baillie Gifford & Co, bringing its valuation to $14 billion from $5.2 billion.
The company has also received funding from a $300 million Series C round in March 2021 led by DST Global Partners, Lightspeed Venture Partners and VY Capital, as well as $120 million from a wide array of venture capital firms.
NFTs are becoming increasingly popular among crypto enthusiasts, and Blockchain.com is looking to capitalize on this trend. The company is offering a range of services to help businesses promote their NFTs, including Twitter NFT marketing and NFT marketing agencies.
The company is also exploring ways to help businesses sell their NFTs more efficiently, such as creating an NFT marketplace or launching a web3 agency. Blockchain.com is looking to create a comprehensive suite of services to help businesses make the most of the NFT market.
Blockchain.com is also working on launching a host of other services to help businesses better manage their finances. The company is looking to provide a range of tools to help businesses better manage their finances, such as budgeting, financial planning and analysis, and forecasting.
By leveraging its expertise in the crypto space, Blockchain.com hopes to become a one-stop-shop for businesses looking to make the most of the NFT and web3 markets. The company is looking to provide the tools and services businesses need to take advantage of the crypto revolution.
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