Key Points:
- Blockchain.com’s Series E raises $110M, led by UK’s Kingsway Capital.
- The funding follows a valuation dip post-Terra ecosystem collapse.
- Capital boost aimed at Blockchain.com’s innovation in digital assets.
Blockchain.com, a key figure in the blockchain sector, has recently completed an important funding round, securing $110 million in Series E funding. This development infuses a substantial amount of capital into the company and indicates a significant change in its overall market valuation.
Kingsway Capital, a venture capital firm based in the United Kingdom, spearheaded the funding round. It drew notable support from various influential entities, including Baillie Gifford, Lakestar, and Coinbase Ventures. Therefore, this capital injection is anticipated to bolster Blockchain.com’s strategic plans, strengthening its standing in the dynamic world of blockchain technology.
Investment and Valuation Shifts Post-Terra Impact
According to a report from Bloomberg on November 14, insiders have disclosed that this latest investment round has reassessed Blockchain.com’s worth. The company’s valuation now stands at less than half its impressive $14 billion peak in March 2022. This revaluation comes in the wake of the collapse of the Terra ecosystem, led by Do Kwon. This also initiated a series of liquidity issues culminating in the bankruptcy of the hedge fund Three Arrows Capital (3AC) and several notable crypto lenders.
Blockchain.com’s journey to a valuation of $14 billion in early 2022 was marked by a funding round that saw participation from Lightspeed Ventures and Baillie Gifford, a well-known early investor in high-growth stocks such as Tesla. The recent financing round reflects the ongoing vibrancy within the blockchain sector. Currently, significant investors are continuing to see potential and resilience in Blockchain.com, even as the industry faces new challenges.
The $110 million capital is expected to enable Blockchain.com to navigate the complexities of the blockchain environment and drive innovation in digital assets. This move signifies a commitment to adaptability and growth in an industry known for its rapid evolution and technological advancements. The company’s ability to secure such funding in a challenging economic climate underscores its robust position and investors’ confidence in its future endeavors.
Conclusion
Blockchain.com’s successful fundraising effort highlights its adaptability and resilience in a fluctuating market. Despite recent upheavals and challenges, it also underscores major investors’ continued interest and confidence in the blockchain industry. This funding is poised to play a critical role in enabling Blockchain.com to continue its innovative pursuits and maintain its competitive edge in the blockchain sector.
Personal Note From MEXC Team
Check out our MEXC trading page and find out what we have to offer! There are also a ton of interesting articles to get you up to speed with the crypto world. Lastly, join our MEXC Creators project and share your opinion about everything crypto! Happy trading! Learn about interoperability now!
Join MEXC Creators Project or start your travel on MEXC
This article was contributed by our guest writer. Want to share something unique with over 10 million users? Check out the MEXC Creators program.
