Blockchain.com Announces $110M Strategic Growth Series E Round led by Kingsway Capital
Blockchain.com yesterday announced a $110M first close of its Series E strategic financing. Led by Kingsway Capital, the financing includes major participation from Baillie Gifford, Lakestar, LSVP, GV, Access Industries, Moore Capital, Prudence, Freeman Capital, Coinbase Ventures, Pledge Ventures and many more.
The funding round cut Blockchain.com's valuation in half.In March of 2022, Blockchain.com said it completed a round that more than doubled its estimated worth to $14 billion.
How does Blockchain.com make money
Blockchain.com makes money by providing cryptocurrency-based financial services to institutional investors. These services include:
- Lending
- Borrowing
- Trading
- Custody of financial assets
Blockchain.com also offers services for individuals, including: Cryptocurrency storage, Crypto staking, Consulting work.
Blockchains can generate revenue through: Cryptocurrency mining, Transaction fees, Token sales, BaaS platforms.
How much is Blockchain.com worth?
In 2022, Blockchain.com had over 81 million wallet users. The company started as the first Bitcoin blockchain explorer in 2011. Between 2012 and 2020, its cryptocurrency wallet accounted for 28% of bitcoin transactions.
Blockchain wallets are considered to be highly secure. They are protected with cybersecurity measures like two-factor authentication and cryptography.