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.
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.