BlockFi in Discussions to Raise ‘Several Hundred Million’ in Latest Round: Report

blockfi-e1558511857189
8 June 2021

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.
Disclosure
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.