Blockchain.com reportedly seeks a $500 million IPO at up to $6 billion valuation

Blockchain.com is reportedly looking to raise about $500 million in an IPO this year. Bloomberg reported Monday, citing people familiar with the matter, that the company was seeking an IPO valuation between $4 billion and $6 billion. Blockchain.com was also open to a smaller offering if needed to complete a public listing. Blockchain.com reached a $14 billion valuation at the height of the previous crypto boom more than four years ago. Blockchain.com confidentially filed draft registration documents with the U.S. Securities and Exchange Commission in May. Blockchain.com did not disclose how many shares it planned to offer or a potential price range at that time. Capital markets are beginning to reopen for crypto companies following a market recovery that began last month. Bitcoin has climbed more than 30% since mid-August. The U.S. Treasury announced in mid-August that it would significantly increase buybacks of long-dated government debt. The Treasury's move helped trigger a sharp rally across crypto markets. Shares of Gemini, BitGo and eToro remain roughly 50% to 80% below their post-IPO highs, according to Bloomberg.