Blockchain.com's Series E Funding Halves Company Valuation

Blockchain.com, a leading crypto exchange and wallet provider, has concluded a $110 million Series E financing round, significantly reducing its valuation to less than half of its March 2022 peak of $14 billion. This round was led by Kingsway Capital, a UK-based venture capital firm, with participation from Baillie Gifford, Lakestar, and Coinbase Ventures.

This funding round marks a stark contrast to the company's March 2022 valuation jump from $5.2 billion to $14 billion, a spike that occurred just before the Terra ecosystem's collapse and subsequent liquidity crises in the crypto market. The March 2022 round was led by Lightspeed Ventures and Baillie Gifford, known for their early investments in growth stocks like Tesla.

Despite the downturn in valuation, the recent funding activity indicates a renewed interest in crypto firms, propelled by the broader market's increasing enthusiasm for digital assets. This enthusiasm is partly driven by multiple pending applications for Bitcoin exchange-traded fund products from financial giants such as BlackRock and Fidelity​​​​​​​​​​​​.

_{Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.}