Blockchain.com’s New Funding Round May Only Get $3 Billion To $4 Billion While It’s Valued At $14 Billion

Blockchain.com may only get $3 to $4 billion in this new round of funding. While valued at $14 billion when it raised funds earlier this year. The funding is yet to be completed and negotiations to raise funds are still in the early stages.

Due to the strong influence of the bear market, Blockchain.com’s funding round value has shrunk. According to Bloomberg, the crypto services company is in talks for a potential fundraiser, but it could only be valued at a fraction of the $14 billion previously proposed.

In March, Blockchain.com said it had completed a round that more than doubled its estimated value to $14 billion and included investors Baillie Gifford and Lightspeed Venture Partners.

The fundraising will follow the strategic funding the company obtained in the third quarter at an unspecified valuation from investors led by UK-based investment firm Kingsway Capital. The funding is yet to be completed and negotiations to raise funds are still in the early stages.

Prior to that, the company had significant exposure to Three Arrows Capital, which lent the hedge fund $270 million before collapsing. Due to market pressure, the company laid off 150 people, or 25% of its team, in July.

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