BlockFi in Discussions to Raise 'Several Hundred Million' in Latest Round: Report
Unnamed sources tell The Information that BlockFi is seeking another mega-round.
Jun 8, 2021 at 7:43 p.m. UTCUpdated May 9, 2023 at 3:20 a.m. UTC
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Cryptocurrency lender BlockFi is in discussions to "raise several hundred million dollars at a valuation near $5 billion," according to a report in The Information citing two unnamed sources.
- The Silicon Valley tech publication said the hedge fund Third Point Management and London-based venture firm Hedosophia are spearheading the round, which will also include existing investors.
- BlockFi raised a $350 million Series D at what it said was a $3 billion valuation in March of this year.
- In August of last year it raised a $50 million Series C.
- The reported fundraising effort comes after Circle topped crypto fundraising rankings with a $440 million round late last month.
- It also follows a botched promotion that saw BlockFi incorrectly handing out whopping sums of bitcoin to its users.
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