Between December and January, company officials are said to have explored the possibility of selling off sections of their business to other cryptocurrency firms, including Coinbase, according to posts citing anonymous people as their sources. In response to the reports, Blockchain.com issued the following statement: “There are no Blockchain.com companies for sale.” Blockchain.com is not a seller of assets, but a buyer of them.

However, since October 2022, the firm has been making efforts to raise more funds for its operations. This is being done even at a deep discount to the previous values ​​of the company’s shares. According to a Bloomberg report, at the time of the round, the company was anticipated to be valued at between $3 billion and $4 billion. The prospective round would help Blockchain.com navigate the weak cryptocurrency market more effectively.

Blockchain.com does not deny the attempts to acquire funds, but the company rejects claims that assets are being sold. PolySign is a company that is working on infrastructure for financial institutions. The company’s venture arm recently sold its 80% stake in the company.

Just a few months after the company cut its workforce by 150 people in July 2022 in response to a $270 million loss in loans made to the defunct hedge fund Three Arrows Capital, Blockchain.com laid off approximately 110 of its staff. workers in January. , representing 28% of the company’s total workforce (3AC).

Blockchain.com claims that it has more than 37 million verified customers using 86 million wallets and that it has a presence in 200 countries. Following the acquisition of new funding in March 2022, led by global venture capital firm Lightspeed Ventures and investment management firm Baillie Gifford & Co, the company’s value rose to $14bn, up from $5.2bn. millions of dollars earlier.

Previous investment included a $300 million Series C round that took place in March 2021 and was led by DST Global Partners, Lightspeed Venture Partners and VY Capital, as well as $120 million from a wide variety of venture capital organizations.