Crypto exchange and wallet provider Blockchain.com has recently closed a $110 million Series E financing round, led by UK-based venture capital firm Kingsway Capital. This investment has resulted in a significant decrease in the company’s valuation, which now stands at less than half of its previous $14 billion valuation from March 2022. Other participants in the funding round include Baillie Gifford, Lakestar, and Coinbase Ventures. Despite the dip in valuation, this funding activity reflects a growing interest in crypto firms, driven by the rising prices of digital assets. The market’s enthusiasm for cryptocurrencies is further fueled by the anticipation of spot Bitcoin exchange-traded fund (ETF) products from financial giants like BlackRock and Fidelity. In the past year, Bitcoin has seen a 116% increase, while Ether and Solana have experienced gains of 61% and 300% respectively. With 37 million verified users, 82 million wallets, and over $1 trillion in total transaction value, Blockchain.com continues to be a prominent player in the crypto industry.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Europe
Countries	🇬🇧
Sentiment	positive
Relevance Score	1
People	Janice
Companies	Lakestar, Kingsway Capital, Lightspeed Ventures, Fidelity, BlackRock, Coinbase Ventures, Baillie Gifford
Currencies	Solana, Bitcoin, Ethereum
Securities	None