{"id":84689,"date":"2023-11-15T01:57:19","date_gmt":"2023-11-15T06:57:19","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/blockchain-com-receives-110-million-in-funding-led-by-kingsway\/"},"modified":"2023-11-15T01:57:21","modified_gmt":"2023-11-15T06:57:21","slug":"blockchain-com-receives-110-million-in-funding-led-by-kingsway","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84689","title":{"rendered":"Blockchain.com Receives $110 Million in Funding Led by Kingsway"},"content":{"rendered":"<div>\n<figure id=\"attachment_131470\" aria-describedby=\"caption-attachment-131470\" style=\"width: 1600px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-131470\" class=\"wp-caption-text\">Source: Blockchain.com<\/figcaption><\/figure>\n<p>The crypto exchange Blockchain.com has successfully raised $110 million in its latest Series E funding round. This substantial financial boost was led by Kingsway Capital, a UK-based investment management firm.<\/p>\n<p>Alongside Kingsway Capital, the Series E round saw participation from several notable firms, including Baillie Gifford, Lakestar, LSVP, GV, Access Industries, Moore Capital, Prudence, Freeman Capital, Coinbase Ventures, and Pledge Ventures. In the meantime, Manny Stotz, CEO of Kingsway Capitaland, and Nicolas Brand, Partner of Lakestar, have joined the Blockchain.com Board of Directors,<\/p>\n<p>This round of financing resets Blockchain.com\u2019s market valuation, which now sits at less than $7 billion, according to Bloomberg\u2019s conversation with a person familiar with the matter. This figure contrasts with the $14 billion valuation the company achieved in March 2022. Just before the major crises in the blockchain and crypto industry, the company completed a Series D funding round including Baillie Gifford and Lightspeed Venture Partners. This previous round valued Blockchain.com at $14 billion, up from $5.2 billion.<\/p>\n<h2>Blockchain.com\u2019s Response to Crypto Winter<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>Blockchain.com, established as an early player in the cryptocurrency exchange domain, has been pivotal in shaping the digital asset economy. Renowned for its trading platform and crypto wallet, the company facilitates a range of crypto transactions, catering to both individual and institutional clients. But the crypto winter hit hard.<\/p>\n<p>In July 2022, Blockchain.com announced that it would close their Argentina-based offices and halt expansion plans in several other countries. The company later decided to lay off 25% of its workforce, approximately 150 employees, in the same month due to the financial losses caused by the harsh bear market.<\/p>\n<p>In addition, Blockchain.com CEO Peter Smith said in a letter to shareholders that the failed Three Arrows Capital (3AC) was \u201crapidly becoming insolvent and the default impact is approximately [USD] 270 million worth of cryptocurrency and US dollar loans from Blockchain.com.\u201d<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/blockchain-com-receives-110-million-in-series-e-funding-led-by-kingsway-capital.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Blockchain.com The crypto exchange Blockchain.com has successfully raised $110 million in its latest Series E funding round. This substantial financial boost was led by Kingsway Capital, a UK-based investment management firm. Alongside Kingsway Capital, the Series E round saw participation from several notable firms, including Baillie Gifford, Lakestar, LSVP, GV, Access Industries, Moore Capital, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":84690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-84689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blockchain.com Receives $110 Million in Funding Led by Kingsway | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Blockchain.com The crypto exchange Blockchain.com has successfully raised $110 million in its latest Series E funding round. 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