Crypto exchange Blockchain.com has just completed a Series E funding round in which it has raised a total of $110 million.
The round, which has raised the company's valuation to $7 billion, was led by Kingsway Capital.
Other participants in the round include Baillie Gifford, Lakestar, LSVP, GV, Access Industries, Moore Capital, Prudence, Freeman Capital, Coinbase Ventures, Pledge Ventures and others.
The company's value in March last year stood at $14 billion, double what it is now, according to Bloomberg sources.
Blockchain.com laid off a quarter of its staff in July 2022 and cut senior management salaries due to the potential loss of $270 million previously loaned to hedge fund Three Arrows Capital, which had filed for bankruptcy.