Blockchain.com eyes $500M IPO as crypto capital markets thaw: Report

What happened

The crypto company is seeking a valuation of up to $6 billion, well below its 2022 peak, as recently listed crypto stocks struggle to hold their gains. Citing people familiar with the matter, Bloomberg reported Monday that Blockchain.com was seeking an IPO valuation of between $4 billion and $6 billion.

At the time, the company didn’t disclose how many shares it planned to offer or a potential price range. The IPO plans come as capital markets begin to reopen for crypto companies following the market recovery that began last month.

Bitcoin (BTC) has climbed more than 30% since mid-August, when the US Treasury announced it would significantly increase buybacks of long-dated government debt, a move that helped trigger a sharp rally across crypto markets. The company was also open to a smaller offering if needed to complete a public listing.

Still, capital market conditions remain challenging for crypto companies. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Key facts

• Bitcoin (BTC) has climbed more than 30% since mid-August, when the US Treasury — announced: it would significantly increase buybacks of long-dated government debt, a move that helped trigger a sharp rally across crypto markets