Fun

Blockchain.com CFO Says Company Could IPO in ’18-Months,’ Firm’s Balance Sheet Holds BTC, ETH

News Feed - 2021-08-31 07:08:33

Blockchain.com CFO Says Company Could IPO in "18-Months," Firm"s Balance Sheet Holds BTC, ETH


This week Blockchain.com CFO Macrina Kgil discussed how the company has surpassed $1 trillion in cryptocurrency transactions and the company may go public with an initial public offering (IPO) in 2023. The cryptocurrency firm is one of the oldest in the industry and Kgil explained that 76 million Blockchain.com wallets have been created since the company’s inception. $1 Trillion in Crypto Transactions Processed, 76 Million Wallets Created


In March 2021, Bitcoin.com News reported on Blockchain.com raising $300 million and receiving a post-money valuation of around $5.2 billion. The company has been around for quite some time and when it was called “Blockchain.info” it was established by Ben Reeves way back in 2011. In 2013 it was led by Nicolas Cary and was considered the most popular bitcoin wallet at the time.


In 2014, Blockchain.com was led by Peter Smith and he’s remained the company’s CEO ever since. Macrina Kgil, Blockchain.com’s chief financial officer, detailed this week that the company has jumped over $1 trillion in crypto transactions since the firm started.


“We recently hit a major milestone at Blockchain.com, surpassing more than $1 trillion in crypto transacted on our platform. To put that number into context, we’ve handled nearly a third of all bitcoin network transactions since 2012,” Kgil said. The company’s CFO added: Our institutional market business is continuing to see exponential growth as more asset managers look to meet their clients’ demand to work with this new asset class. Blockchain.com Is Contemplating an Initial Public Offering, Firm Holds Bitcoin and Ethereum on Its Balance Sheet


The Blockchain.com CFO also spoke with Fortune.com in an interview published on August 30 that explains the firm has also seen 76 million wallets created. Kgil believes that the cryptocurrency ecosystem will see continued growth and noted that crypto is not going anywhere.


“At this point in time, a lot of people actually think crypto is here to stay,” Kgil stressed in her interview with Fortune.com. “It’s just [a matter of] how big and how fast it will grow within the overall economy,” she added.


Furthermore, just like publicly-listed companies like Coinbase and Canaan, the Blockchain.com CFO mentioned that the company may see an initial public offering as soon as 2023. The interview says “possibly 18-months or more away” and the interview also highlights that Blockchain.com keeps crypto assets on its balance sheet.


“The main pieces of crypto we hold are [bitcoin (BTC) and ethereum (ETH)… but we do also hold [altcoins], as a company, when we think it makes sense,” Kgil says.


What do you think about Blockchain.com possibly going public by 2023 and the $1 trillion in crypto transactions recorded on the platform? Let us know what you think about this subject in the comments section below. ECB Vice President States Crypto Should Be Regulated Like Other Assets NEWS | 14 hours ago Travel Rule Implementation Still Far Off Due to Tech Limitations, Australian Regulator Reports NEWS | 15 hours ago Tags in this story 18 Months, 2023, 76 million wallets, Altcoins, Bitcoin, Blockchain.com, Blockchain.com CFO, BTC, Canaan, chief financial officer, Coinbase, Crypto, Cryptocurrency, ETH, Ethereum, initial public offering, IPO, Macrina Kgil, nicolas cary, Peter Smith


Image Credits: Shutterstock, Pixabay, Wiki Commons Show comments

News Feed

Bitcoin Golden Cross Pattern Says The Crash To $100,000 Is Normal – What To Expect Next
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Regulate Stablecoins – Don’t Squash Them
Nathan Kaiser is a founder of Eiger Law and a fellow at the Berkman Klein Center for Internet & Society at Harvard University. He has two decades of professional experience in Greater China focusing on corporate l
Report: Japanese Carmakers Toyota and Nissan Enter the Metaverse
Report: Japanese Carmakers Toyota and Nissan Enter the Metaverse Two Japanese carmakers, Nissan and Toyota, have launched operations in the metaverse. Nissan’s virtual showr
Zhiyuan Sun6 hours agoInflection AI raises $1.3B in funding led by Microsoft and NvidiaThe company has raised $1.525 billion in funding since its inception last year.1181 Total viewsListen to article 0:00NewsJoin us on s
Ethereum Analyst Eyes $1,200-$1,300 Level As Potential Acquisition Zone – Details
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
USDT aims to offer a lifeline to inflation-stricken nations: Tether CEO
Zoltan Vardai10 hours agoUSDT aims to offer a lifeline to inflation-stricken nations: Tether CEOUnlike other stablecoin issuers, Tether says it is focused on offering stablecoin services to the world’s unbanked, which
Institutional adoption in blockchain and crypto at its highest point, says BlockDaemon strategist
Tristan Greene4 hours agoInstitutional adoption in blockchain and crypto at its highest point, says BlockDaemon strategistBarnaby Hodgkins is bullish on mass adoption, Ethereum ETFs, and the future of the industry.946 To
Shark Tank’s Mark Cuban Says Bitcoin Is a Store of Value but ‘More Religion Than Solution to Any Problem’
Shark Tank’s Mark Cuban Says Bitcoin Is a Store of Value but "More Religion Than Solution to Any Problem" Shark Tank star and the Dallas Mavericks’ owner
Savannah Fortis14 hours agoMeta launches suite of generative AI music tools rivaling Google’s MusicLMMeta’s latest suite of generative AI tools allows users to input text to create musical and audio compositions, riv
Cointelegraph Innovation Circle8 hours ago11 Bitcoin blockchain metrics TradFi organizations should watchTracking Bitcoin blockchain metrics can provide a window into the overall health of the crypto community.338 Total
Turner WrightAug 04, 2023Coinbase CEO says leaving US ‘not even in the realm of possibility right now’ — ReportBrian Armstrong has previously suggested Coinbase might abandon the U.S. for a more crypto-friendly cou
Tom Mitchelhill4 hours agoCrypto miner Hive Digital drops ‘blockchain’ from name amid pivot to AIHive made the rebrand to reflect its “evolving focus” on revenue opportunities in AI, cloud computing and GPUs.1215