No businesses are for sale, says Blockchain.com

Cryptocurrency speech and fiscal services steadfast Blockchain.com has denied attempts to merchantability assets oregon subsidiaries, and it is not successful talks with different crypto firms astir imaginable deals, a spokesperson told Cointelegraph connected Feb. 18. 

According to reports citing anonymous sources, executives of the institution discussed selling parts of its concern to different crypto firms - including Coinbase - betwixt December and January. Blockchain.com refutes the rumors:

The company, however, has been moving connected raising further superior for its operations since October 2022, adjacent astatine a important discount to erstwhile valuation. At the time, the circular was expected to effect successful a $3 cardinal to $4 cardinal valuation, shows a Bloomberg report. The imaginable circular would assistance Blockchain.com to navigate amid the crypto carnivore market. 

Blockchain.com doesn't contradict the efforts to rise capital, but disputes claims astir selling assets. The company's task limb precocious exited an 80% presumption astatine PolySign, a startup moving connected infrastructure for fiscal institutions.

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About 110 employees from Blockchain.com, oregon 28% of its staff, were laid disconnected successful January, conscionable a fewer months aft the institution downsized its headcount by 150 successful July 2022 pursuing a nonaccomplishment of $270 cardinal connected loans made to the bankrupted hedge money Three Arrows Capital (3AC).

Blockchain.com claims to person implicit 37 cardinal verified clients utilizing 86 cardinal wallets, and beingness successful 200 countries. In March 2022, the institution secured a caller backing led by planetary task superior steadfast Lightspeed Ventures and concern absorption steadfast Baillie Gifford & Co, bringing its valuation to $14 billion from $5.2 billion.

Previous backing includes a $300 cardinal Series C circular successful March 2021 led by DST Global Partners, Lightspeed Venture Partners and VY Capital, arsenic good arsenic $120 cardinal from a wide array of task superior firms.