Blockchain.com is refute rumors that they are selling assets

According to reports that cite anonymous sources, the company’s officials are believed to have looked into selling parts of their business between December and January. Blockchain.com responded to these reports by stating that “No Blockchain.com companies are available for sale.” Blockchain.com does not sell assets, but is a buyer.

However, the company has been working hard to raise more funds for its operations since October 2022. This is happening even though it is a significant discount to the stock’s previous values. Bloomberg reported that it was expected that the company’s value would range between $3 billion and 4 billion at the time the round took place. Blockchain.com would benefit from the potential round to help navigate the market for cryptocurrency more effectively.

Blockchain.com does not deny that attempts have been made to acquire funds, but it rejects claims that assets are being resold. PolySign, a company that works on infrastructure for financial institutions, is PolySign. The firm’s venture arm recently sold its 80% stake.

Blockchain.com ended the employment of 110 workers in January just months after it had reduced its workforce by 150 in July 2022, in response to a $270m loss on loans made to Three Arrows Capital. This represented 28% of the total workforce (3AC).

Blockchain.com claims it has over 37 million customers verified who use 86,000,000 wallets and is present in 200 countries. Following the acquisition of fresh financing in March 2022, which was headed by the global venture capital firm Lightspeed Ventures and the investment management firm Baillie Gifford & Co, the company’s value increased to $14 billion, up from $5.2 billion before.

The previous investment consisted of a $300 million Series C round, which was led by DST Global Partners, Lightspeed Venture Partners and VY Capital. It also received $120 million from various venture capital firms.

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