Blockchain.com is in talks with potential investors, and the details could change. The company declined Bloomberg’s request for comment, according to the report.
Blockchain.com announced in May that it had confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission for an IPO.
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“The number of shares to be offered and the price range for the proposed offering have not yet been determined,” the company said at the time in a press release. “The initial public offering is subject to market and other conditions and the completion of the SEC’s review process.”
Blockchain.com announced in November 2023 that it raised $110 million in a Series E funding round. Bloomberg reported at the time that the financing valued Blockchain.com at less than half the $14 billion it reached in 2022. That drop followed a downturn in the crypto market.
According to Monday’s Bloomberg report, the claims about Blockchain.com’s plans for an IPO come at a time when the crypto market appears to be recovering after the price of bitcoin began plummeting about a year ago. Since mid-August, bitcoin is up 33%.
Crypto company listings came to a stop when bitcoin prices fell, the report said.
Kraken parent Payward is considering going public, though its plans have slowed and its debut may not arrive until 2027, per the report.
Meanwhile, Blockchain.com and NYSE announced Sept. 23 that they signed a memorandum of understanding to enable Blockchain.com users to get access to tokenized U.S. exchange-listed equities and exchange-traded funds on the NYSE’s upcoming digital alternative trading system. The companies said the distribution plan is subject to regulatory approvals.
Peter Smith, executive chairman, CEO and co-founder of Blockchain.com, said at the time in a press release that people should have greater access to stock ownership, that tokenized stocks are a catalyst for greater economic freedom and that the collaboration will enable tens of millions of Blockchain.com users around the world to invest in these digital assets.
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