Hassan Maishera
TL;DR
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Blockchain.com wants to join a host of other leading crypto companies in going public.
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The company is in talks of going public via a SPAC deal.
Blockchain.com Mulls Stock Exchange Listing Via a SPAC Deal
Blockchain.com, a cryptocurrency exchange and wallet provider, has recently held talks about the possibility of going public in the United States via a special purpose acquisition company (SPAC) listing. This is according to two people familiar with the matter.
The sources revealed that the crypto exchange appointed Cohen & Company Capital Markets to advise on a potential SPAC deal.
It remains unclear how much the deal will be valued at. However, Blockchain.com has raised funds at different valuation levels over the years. In March 2021, the company raised $300 million at a post-money valuation of $5.2 billion. In 2022, its valuation climbed to $14 billion after another funding round. However, by November 2023, the company’s valuation dipped to $7 billion after it raised $110 million.
Blockchain.com has become the latest cryptocurrency company to seek to list on the stock exchange. Circle, the issuer of th USDC stablcoin, went public via an initial public offering (IPO) in June.
Bullish also went public in August, with Kraken in the process of launching its IPO in the coming months.
