Blockchain.com Said to Target $500M IPO at $4B-$6B Valuation

The valuation range itself is the story: a multi-billion-dollar figure for a wallet-and-exchange business signals that public-market appetite for crypto infrastructure is being tested at a scale few peers have attempted. A confidential filing is not a listing, and the gap between a reported target and an executed deal is where sentiment lives. Whether the raise lands near the top or bottom of that range, and whether the timeline holds, will say more about institutional demand for crypto equity than any single token move.