Blockchain.com Hits $14 Billion Valuation Following Fresh Funding

Leading cryptocurrency financial services company Blockchain.com is now valued at $14 billion following a fresh funding round, Bloomberg reported on Thursday. However, the amount raised was not disclosed.

Blockchain.com Valuation Triples in 12 Months

The fundraise was led by Lightspeed Venture Partners, with major participation from Baillie Gifford & Co. Both firms are existing partners of Blockchain.com.

Back in March 2021, the crypto company was valued at $5.2 billion after raising $300 million from investors including Lightspeed and VY Capital. This means that the firm’s worth has now almost tripled in a year.

In April 2021, Blockchain.com received its single largest funding from investment management firm Baillie Gifford, Coinfomania reported.

Founded 10 years ago and headquartered in Luxembourg, Blockchain.com is a cryptocurrency financial services company which also operates as a crypto exchange. It provides crypto services including holding, using and managing digital assets, as well as exploring cryptocurrency transactions.

The company has more than 35 million users and more than 82 million wallets with over $1 trillion in executed transactions.

Last year, Blockchain.com noted that it will be shifting its U.S. headquarters from Miami to New York and hiring up to 300 staff at the new location.

Investors Betting Big on Crypto Firms

Major investors, including venture capitalists, banks, investment management firms and others, have continued to show interest in crypto, which has led to increased investments in the industry. One major reason for this is the significant growth recorded by crypto startups.

In 2021, venture capitalists invested a record $30 billion in crypto-related firms, representing a 450% increase from the previous year, according to data from CryptoQuant.

In early January, popular NFT marketplace OpenSea hit a $13.3 billion valuation just 4 years after it was established.

The same month, mainstream crypto exchange FTX was valued at $32 billion shortly after its U.S. division reached a market valuation of $8 billion after raising $400 million.

Several other crypto-related firms, including BlockFi, Bitmain, Circle, and Liquid, have also reached unicorn status in recent time.