The company, which confidentially filed registration documents with the U.S. Securities and Exchange Commission in May, is reportedly sounding out investors on these preliminary terms. While the firm has not publicly confirmed the figures, insiders suggest management may be willing to scale back the offering size to ensure the transaction crosses the finish line. This effort follows a turbulent period for crypto-related stocks, which have frequently struggled to maintain their initial public momentum.
In section Cryptocurrency
Blockchain.com Targets $500 Million IPO Despite Valuation Slide
Blockchain.com is moving toward a U.S. public offering of roughly $500 million before the end of 2026, according to recent reports. The move signals a push for liquidity, even as the firm eyes a valuation between $4 billion and $6 billion—a sharp retreat from its $14 billion private-market peak in 2022.
Navigating a Shifting Market
Founded in 2011, the brokerage is one of the oldest entities in the digital asset space. Its current strategy involves balancing a legacy of high valuations with the reality of a cooled market. Previous industry IPOs, including those of Gemini and BitGo, have seen significant value erosion after listing, prompting competitors like Kraken and Ledger to delay or shelve their own public debut plans. To bolster its standing, Blockchain.com has recently pivoted toward traditional finance, notably signing an agreement with the NYSE to explore tokenized U.S. stock trading. Success for the IPO will depend on both clearing the SEC review process and convincing investors that the company’s expansion into derivatives and global licensing can offset the broader volatility affecting the sector.
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