According to Bloomberg’s report cryptocurrency exchange Blockchain.com has raised an undisclosed amount of additional capital in a funding round led by UK-based investment firm Kingsway Capital.
Cryptocurrency Exchange Blockchain.com Raises Additional Capital From Various Investors
While the company did not disclose the total amount, Blockchain.com said the deal was finalized sometime in the third quarter and includes Baillie Gifford and Lightspeed Venture Partners as investors.
Blockchain.com was valued at $14 billion in a Series D funding round led by Lightspeed Venture Partners earlier this year.
Cryptocurrency and bitcoin The company offers a variety of services, from trading to lending and custody. It had recently received approval from Singapore to offer payment services. Founded in 2011, the company is also one of the oldest companies in crypto.
After the Terra ecosystem suffered a $40 billion collapse, various crypto companies had to file the bankruptcy flag. Blockchain.com had lent $270 million to Three Arrows Capital, one of these bankrupt companies.
“Three Arrows is rapidly going bankrupt and the default effect of this is approximately $270 million worth of cryptocurrencies and US dollar loans from Blockchain.com,” Blockchain.com CEO Peter Smith said in a shareholder letter in July.
However, as it is known, many companies in the crypto sector had to apply layoffs due to difficult market conditions. Blockchain.com was among these companies.
*Not investment advice.
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