Blockchain.com eyes $500M IPO as crypto capital markets thaw: Report

Blockchain.com, a crypto exchange and wallet provider, is reportedly looking to raise about $500 million in an initial public offering (IPO) this year, more than four years after the company reached a $14 billion valuation at the height of the previous crypto boom.Citing people familiar with the matter, Bloomberg reported Monday that Blockchain.com was seeking an IPO valuation of between $4 billion and $6 billion. The company was also open to a smaller offering if needed to complete a public listing.As Cointelegraph reported, Blockchain.com confidentially filed draft registration documents with the US Securities and Exchange Commission in May, paving the way for a potential IPO. At the time, the company didn’t disclose how many shares it planned to offer or a potential price range.The IPO plans come as capital markets begin to reopen for crypto companies following the market recovery that began last month. Bitcoin (BTC) has climbed more than 30% since mid-August, when the US Treasury announced it would significantly increase buybacks of long-dated government debt, a move that helped trigger a sharp rally across crypto markets.Still, capital market conditions remain challenging for crypto companies. Shares of recently listed crypto companies Gemini, BitGo and eToro are still down roughly 50% to 80% from their post-IPO highs, according to Bloomberg.