Blockchain.com debunks rumors of selling businesses

Blockchain.com denied reports about the firm attempting to raise capital by selling its subsidiaries.
Dot
February 18, 2023
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

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Peter Smith; Photo Source: Rupert Thorpe

Blockchain.com denied reports about the firm attempting to raise capital by selling its subsidiaries.

Recently, sources claimed that Blockchain.com attempted to sell off some of its assets, including businesses, to gather funds. The reports suggested that the exchange’s executives contacted Coinbase and other companies for the sale of its assets between December and January.

However, Blockchain.com has dismissed these rumors. A spokesperson for the exchange stated that the firm does not intend to sell its subsidiaries, adding, 

“No Blockchain.com businesses are for sale. Blockchain.com is an asset buyer, not a seller.”

It is worth noting that the representative did not deny that Blockchain.com is attempting to raise funds. They added that Blockchain Ventures recently sold 80% of its stake in fintech company PolySign.



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Although Blockchain.com was valued at $14B, the firm expected its valuation for 2022 to drop to $3-4B by the end of the year. Blockchain.com has also reduced its workforce twice since July 2022 to continue operating in the crypto winter.

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Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn

Blockchain.com debunks rumors of selling businesses

HomeCrypto exchanges
Contents
Peter Smith; Photo Source: Rupert Thorpe

Blockchain.com denied reports about the firm attempting to raise capital by selling its subsidiaries.

Recently, sources claimed that Blockchain.com attempted to sell off some of its assets, including businesses, to gather funds. The reports suggested that the exchange’s executives contacted Coinbase and other companies for the sale of its assets between December and January.

However, Blockchain.com has dismissed these rumors. A spokesperson for the exchange stated that the firm does not intend to sell its subsidiaries, adding, 

“No Blockchain.com businesses are for sale. Blockchain.com is an asset buyer, not a seller.”

It is worth noting that the representative did not deny that Blockchain.com is attempting to raise funds. They added that Blockchain Ventures recently sold 80% of its stake in fintech company PolySign.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Although Blockchain.com was valued at $14B, the firm expected its valuation for 2022 to drop to $3-4B by the end of the year. Blockchain.com has also reduced its workforce twice since July 2022 to continue operating in the crypto winter.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

Blockchain.com denied reports about the firm attempting to raise capital by selling its subsidiaries.

Recently, sources claimed that Blockchain.com attempted to sell off some of its assets, including businesses, to gather funds. The reports suggested that the exchange’s executives contacted Coinbase and other companies for the sale of its assets between December and January.

However, Blockchain.com has dismissed these rumors. A spokesperson for the exchange stated that the firm does not intend to sell its subsidiaries, adding, 

“No Blockchain.com businesses are for sale. Blockchain.com is an asset buyer, not a seller.”

It is worth noting that the representative did not deny that Blockchain.com is attempting to raise funds. They added that Blockchain Ventures recently sold 80% of its stake in fintech company PolySign.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Although Blockchain.com was valued at $14B, the firm expected its valuation for 2022 to drop to $3-4B by the end of the year. Blockchain.com has also reduced its workforce twice since July 2022 to continue operating in the crypto winter.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande