BlockFi, a cryptocurrency lending service, is in the final stages of fundraising at a valuation of $5 billion, the Information has learned. According to persons familiar with the matter, the company plans to raise funds from big investors, including Third Point Management and Hedosophia.
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However, the round is not yet closed and the valuation is still subject to change. BlockFi has not officially commented on the matter. The new funding round might come after the cryptocurrency lender firm raised $350 million in a Series D fundraising round that values it at $3 billion. The latest investment round included such investors as Bain Capital Ventures, partners of DST Global, Pomp Investments and Tiger Global.
Back in March, the company announced plans for expansion of its core product offering, including earning yield on cryptocurrencies, buying and selling crypto directly on BlockFi and originating US dollar loans secured by the value of cryptocurrencies on the platform.
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