Bitcoin exchange Blockchain.com has closed a $110 million Series E funding round at a $7 billion valuation.
It was led by Kingsway Capital. Baillie Gifford, Lakestar, LSVP, GV, Access Industries, Moore Capital, Prudence, Freeman Capital, Coinbase Ventures, Pledge Ventures and others also provided funds.
The company’s value may have fallen by half since March 2022. According to Bloomberg sources, the Blockchain was then valued at $14 billion.
In July 2022, Blockchain.com cut a quarter of its staff and the salaries of top managers. The decisions came amid possible losses of $270 million previously lent to hedge fund Three Arrows Capital. The latter filed for bankruptcy.
In January 2023, the company announced a new wave of layoffs.
In March, Blockchain.com closed the asset management division after 11 months of work.
In August, the bitcoin exchange received a license in Singapore.