Blockchain.com raises $110M funding round at lower valuation "less than half" of the $14bn they raised at in 2021

Blockchain.com, one of the longest-running crypto wallet and exchange providers, has raised $110 million in a new Series E “strategic financing” round led by UK-based Kingsway Capital, according to Bloomberg and company statements. Existing and new backers including Baillie Gifford, Lakestar, Lightspeed Venture Partners, Coinbase Ventures, GV, Access Industries, Moore Capital, Prudence, Freeman Capital, and Pledge Ventures also participated. As part of the deal, Kingsway founder Manny Stotz and Lakestar partner Nicolas Brand are joining Blockchain.com’s board of directors. The round marks a significant down valuation from Blockchain.com’s $14 billion peak valuation in early 2022, with Bloomberg reporting that the new financing values the company at “less than half” that level — just under $7 billion, according to multiple outlets citing sources familiar with the terms. The repricing reflects the broader reset in crypto venture valuations following the 2022–2023 “crypto winter,” market drawdowns, and industry shocks, even as digital asset prices and VC activity have begun to recover. Despite the lower valuation, the raise indicates continued investor confidence in Blockchain.com’s role as a major centralized gateway to crypto, with the company reportedly having facilitated over $1 trillion in transactions and serving tens of millions of users globally. For context, Blockchain.com, founded in 2011 by Benjamin Reeves, Nicolas Cary, and Peter Smith, has now raised roughly $600 million in venture funding across multiple rounds, including a large 2021–2022 funding cycle when it hit its prior $14 billion valuation. The new “strategic growth” Series E capital is positioned to support product expansion and balance sheet strength as the firm competes with other centralized exchanges and wallet providers in an environment of tighter funding conditions, evolving regulation, and rising institutional interest in digital assets. "entities":["Blockchain.com","Kingsway Capital","Manny Stotz","Lakestar","Nicolas Brand","Baillie Gifford","Lightspeed Venture Partners","Coinbase Ventures","GV (Google Ventures)","Access Industries","Moore Capital","Prudence","Freeman Capital","Pledge Ventures","Benjamin Reeves","Nicolas Cary","Peter Smith"]}'}Note: The above looks like double-encoded JSON in the

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