BlockFi Seeks $5 Billion Valuation in New Funding Round

u.today 08 June 2021 19:55, UTC
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Cryptocurrency lender BlockFi is seeking "several hundred million more," according to a June 8 report by The Information. This would translate into a $5 billion valuation. 

Daniel Loeb's Third Point Management is currently in talks to spearhead the new fundraising effort together with London-based investment firm Hedosophia.      

In March, the company completed its $350 million Series D funding round that boosted its valuation to $3 billion.

The report states that the fundraising talks haven't been finalized yet, which is why the valuation could change.

BlockFi was co-founded back in 2017 by Zac Prince, its current CEO, and Flori Marquez 

While crypto firms are still flying high following Coinbase's public debut in mid-April, cryptocurrency prices are under severe pressure, with Bitcoin revising the $31,000 level earlier today.     


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