Blockchain.com Files Confidentially for US IPO After 14 Years in Crypto

Blockchain.com, one of the oldest and most established names in the cryptocurrency industry, has taken a significant step toward going public. The company confidentially filed a draft Form S-1 with the SEC on May 21, marking a pivotal moment for a firm that has weathered multiple market cycles since its 2011 founding.

The filing reveals little about valuation or share structure, but industry observers will scrutinize the gap between its $14 billion 2022 bull market valuation and the $7 billion price tag from its Series E round post-FTX collapse. With 95 million wallets, 43 million verified users, and $1.1 trillion in lifetime transaction volume, Blockchain.com brings substantial metrics to the public markets.

This move comes as the company reports three consecutive years of profitability on an adjusted basis, suggesting crypto's infrastructure players may be maturing beyond speculative growth phases. The IPO's success could signal institutional confidence in crypto-native businesses despite recent market turbulence.