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Benzinga
Benzinga
Business
Murtuza Merchant

Blockchain.com Needs Cash As Valuation Plunges 70%: Will VCs Back The Struggling Startup?

blockchain Blockchaincom Crypto Bitcoin Peter Smith LightSpeed Venture Partners

Cryptocurrency exchange Blockchain.com is in the midst of a down-round fundraising campaign, which may result in a valuation reduction of more than 70%.

According to a Bloomberg report, the company plans to raise money at a fraction of the $14 billion valuation it earned earlier this year.

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