Founded in 2011 by Ben Reeves, Nicolas Cary, and CEO Peter Smith, Blockchain.com began as a blockchain analytics tool before expanding into wallet services, trading, and institutional offerings. The platform, which has facilitated over $1 trillion in transactions and serves millions globally, became a crypto infrastructure cornerstone with products like its widely used blockchain explorer and wallet.
Early investors included Baillie Gifford and Lightspeed Venture Partners, with the company raising $1.09 billion to date, including a $14 billion valuation in 2022. Bloomberg’s Teresa Xie reports that the recent leadership appointments include Justin Evans, former head of Goldman Sachs’ crypto investment banking unit, as CFO, and Mike Wilcox, ex-CFO of Velocity Global, as COO. Evans, who advised on Coinbase’s 2021 direct listing, told Bloomberg the hires align with Blockchain.com’s efforts to take steps necessary to be a public company.
The moves follow a $110 million funding round led by Kingsway Capital in 2023, though market downturns slashed its valuation to under $7 billion, according to Bloomberg. The firm faced significant challenges, including a $270 million loss tied to the 2022 collapse of hedge fund Three Arrows Capital (3AC), which prompted layoffs. Despite setbacks, it remains a top crypto exchange, leveraging partnerships with institutions like Goldman Sachs and Morgan Stanley, which Bloomberg says are increasingly courting crypto clients for IPOs.
The company’s IPO push coincides with a favorable U.S. regulatory climate under crypto advocate Donald Trump. Xie’s report further notes that competitors like Circle and Kraken also aim to go public, while Wall Street banks expand crypto advisory services. Evans highlighted the improved policy environment compared to his tenure at Goldman Sachs, calling Blockchain.com’s growth “dynamic.”
“Joining at this stage of the company’s journey presents growth opportunities and enables me to contribute in meaningful ways to the next chapter of the company,” Evans told the publication.
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