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Blockchain.com Is Reportedly Seeking Up To $500M In US IPO

TL;DR

  • Blockchain.com is reportedly preparing a U.S. IPO that could raise about $500 million.
  • Bloomberg reports the company is discussing a valuation of roughly $4 billion to $6 billion.
  • The plans remain private and could change; Blockchain.com has not announced a final offering size or pricing date.

Blockchain.com is reportedly trying to become the next major crypto company to reach the U.S. public markets.

The company is discussing an initial public offering that could raise roughly $500 million, according to Bloomberg, citing people familiar with the plans.

A potential valuation in the range of $4 billion to $6 billion is being discussed.

The Numbers Are Targets, Not Final Terms

Blockchain.com has not publicly priced an IPO.

There is no final share count, offer price or trading date.

The figures currently circulating represent targets being discussed with prospective investors and advisers.

Bloomberg reports that the company could accept a smaller capital raise depending on market conditions.

That matters because private IPO preparations can change substantially before a company reaches a public roadshow.

Blockchain.com declined to comment on the reported plans.

The company was valued at approximately $7 billion in a private funding round in 2023, meaning the proposed public-market range would not necessarily restore its previous private valuation.

Crypto IPOs Are Testing Public-Market Appetite Again

The timing is interesting.

Crypto companies have spent several years moving between periods of aggressive expansion and long stretches where public listings were effectively off the table.

A $500 million Blockchain.com offering would be another test of whether public-market investors are ready to fund large crypto-native businesses again.

Blockchain.com operates wallets, brokerage and institutional infrastructure and has been active since the early years of Bitcoin.

It also announced a partnership with the New York Stock Exchange earlier this month around tokenized U.S. securities.

That does not guarantee an IPO will happen.

The listing process depends on market conditions, regulatory filings and investor demand.

The valuation target can also move before an offering is launched.

Still, the reported range gives a useful indication of what the company and its advisers believe the public market might support.

Crypto companies once relied heavily on venture capital and private token markets for funding.

More of them are now trying to use conventional equity markets as well.

If Blockchain.com proceeds, investors will get another chance to decide how they value a mature crypto business whose revenues span several different parts of the industry.

For now, it remains a proposed transaction.

The ambition is clear: raise hundreds of millions of dollars and return Blockchain.com to a multibillion-dollar valuation on the public market.

This article was written by the News Desk and edited by Samuel Rae.



from Bitcoinist.com https://ift.tt/IEVPdNA
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