Blockchain.com Hits $14 Billion Valuation amid Latest Funding

Blockchain.com has become one of the most valuable cryptocurrency platforms after it closed its latest funding round at a valuation of around $14 billion, according to a Bloomberg report.

The financing round was led by Lightspeed Venture Partners and Baillie Gifford & Co who also participated in the round. Both of them were existing investors in the crypto company.

However, the startup

Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term has not confirmed anything officially, and the funding amount is not known yet.

Founded in 2011, Blockchain.com has turned itself into a major crypto platform over the years. According to its website, it has 37 million verified users with 82 million wallets and has handled more than $1 trillion in transactions. Last year, the company moved its US headquarters from New York to Miami.

A Well-Funded Crypto Company

The latest valuation is a significant jump from the company’s $5.2 billion valuation that was achieved in March last year when the company raised $300 million. That round included Lightspeed and VY Capital as investors.

But, the single largest investment into the crypto company came from Baillie Gifford at $100 million last April.

Though originally a British company, Blockchain.com’s name came up in the list of the crypto companies withdrawing from the UK Financial Conduct Authority’s (FCA) temporary register for licensing. Those requirements wanted the company to be approved under an anti-money-laundering (AML

Anti-Money Laundering (AML) Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Read this Term) scheme or cease trading by 31 March.

Blockchain.com withdrew its application on 29 March and is going to operate in Europe with its Lithuanian license.

Meanwhile, other competitors of Blockchain.com are getting massive valuations. Global FTX, led by crypto billionaire Sam Bankman-Fried, hit $25 billion for its valuation, whereas its US affiliate was valued at $8 billion. However, the valuation of Binance, which is the largest global crypto exchange in terms of trading volume, is not known.