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BlockFi Seeks $5 Billion Valuation in New Funding Round

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Tue, 06/08/2021 - 18:32
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Alex Dovbnya
BlockFi is reportedly seeking to raise several hundred million more
BlockFi Seeks $5 Billion Valuation in New Funding Round
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Cryptocurrency lender BlockFi is seeking "several hundred million more," according to a June 8 report by The Information. This would translate into a $5 billion valuation. 

Daniel Loeb's Third Point Management is currently in talks to spearhead the new fundraising effort together with London-based investment firm Hedosophia.      

In March, the company completed its $350 million Series D funding round that boosted its valuation to $3 billion.

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The report states that the fundraising talks haven't been finalized yet, which is why the valuation could change.

BlockFi was co-founded back in 2017 by Zac Prince, its current CEO, and Flori Marquez 

While crypto firms are still flying high following Coinbase's public debut in mid-April, cryptocurrency prices are under severe pressure, with Bitcoin revisiting the $31,000 level earlier today.     

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.