Blockchain.Com Raises $110M In Latest Funding Round Amid Crypto Market Revival
Portfolio Pulse from Mehab Qureshi
Blockchain.com, a cryptocurrency exchange and wallet provider, has raised $110 million in a Series E funding round led by Kingsway Capital, with participation from Lakestar, Lightspeed Venture Partners, and Coinbase Ventures. The funding round valued the company lower than its previous $14 billion valuation, although the current valuation was not disclosed. This funding is significant as it comes during a period of recovery in the crypto market, with Bitcoin's price rebounding above $35,000 after trading below $20,000 in October 2022.
November 15, 2023 | 7:23 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Coinbase Ventures, an investment arm of Coinbase, participated in Blockchain.com's $110M funding round. This investment could signal confidence in the crypto sector's growth potential.
Coinbase Ventures' participation in the funding round may be viewed positively by investors as an indication of growth prospects in the crypto industry. This could lead to a short-term positive sentiment for COIN, although the impact may be moderate given that the funding round's valuation was lower than the previous one.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60