Blockchain Com Wants to Go Public- at Up to a $6B Valuation
One of $BTC crypto's oldest companies is looking to raise around $500M in a U.S. IPO this year, although the final size could be smaller. The company has already filed confidentially with the SEC back in May.
Blockchain.com was founded in 2011; it's been profitable for the past 3 years, and reported more than 95M wallets and $1.1T+ in crypto transactions when filed in May.
Its last major valuation peak was $14B in 2022. Now management is reportedly willing to enter the public market at less than half of that even though public markets haven't been forgiving to crypto companies lately. Recently listed names including Gemini and eToro are still well below their post-IPO highs
So this IPO could be an interesting test:
crypto companies are coming back to Wall Street, but investors may be demanding very different valuations than they did during the last cycle.
Would you rather see crypto companies stay private longer or enter public markets earlier?
#Macro Insights# #Altcoin Season# #IPO
One of $BTC crypto's oldest companies is looking to raise around $500M in a U.S. IPO this year, although the final size could be smaller. The company has already filed confidentially with the SEC back in May.
Blockchain.com was founded in 2011; it's been profitable for the past 3 years, and reported more than 95M wallets and $1.1T+ in crypto transactions when filed in May.
Its last major valuation peak was $14B in 2022. Now management is reportedly willing to enter the public market at less than half of that even though public markets haven't been forgiving to crypto companies lately. Recently listed names including Gemini and eToro are still well below their post-IPO highs
So this IPO could be an interesting test:
crypto companies are coming back to Wall Street, but investors may be demanding very different valuations than they did during the last cycle.
Would you rather see crypto companies stay private longer or enter public markets earlier?
#Macro Insights# #Altcoin Season# #IPO
