TREE NEWS update: Crypto exchange and wallet provider Blockchain.com plans to raise about $500 million through an initial public offering this year, targeting a valuation of $4 billion to $6 billion, and may scale back the offering if needed to complete the listing. The company, valued at $14 billion in 2022, confidentially filed IPO registration documents with the SEC in May. Recently listed Gemini, BitGo and eToro now trade roughly 50% to 80% below their post-listing highs.
Blockchain.com Plans IPO to Raise $500M at $4B-$6B Valuation
AI take
The gap between Blockchain.com's 2022 valuation and its IPO target is the clearest signal yet of how far crypto private marks have reset, and the company's willingness to shrink the raise to get the listing done suggests completing it matters more than the headline number. The recent post-listing performance of Gemini, BitGo and eToro frames the reception risk: public investors have been quick to mark crypto equity down from debut highs. Whether Blockchain.com prices into that skepticism or holds its range is the open question, and it will shape how other private crypto firms time their own exits.
Generated by AI for reference only.
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