Blockchain.com Seeking $50 Million in Funding
One of the world’s leading wallet providers in the cryptocurrency space is seeking $50 Million for a venture capital fund. Blockchain.com is estimated to be asking a substantial amount of money; this information was cited by two unnamed sources in an article with Yahoo Finance. It looks like blockchain.com is interested in investing in digital tokens and equities. The sources also noted that Samuel Harrison, a long-time trader of digital currency, is leading the project for this website. It’s also reported that due to his reputation, they’re earning the funds they’ve requestors from secret investors.
Harrison’s reputation has come from working with notable firms like CoinDirect, Noodle, Silver TV and Origin Protocol. It’s suspected by these sources that all four former employers of Harrison have signed on for investing in the venture capital fund for blockchain.com.
The History and Downfalls of Blockchain.com
The history of blockchain.com isn’t that hard to understand. The site was first created in 2011 as Blockchain.info, and it primarily provided free information to visitors on the growing cryptocurrency. However, eventually, they became their exchange and now manage over forty million wallets worldwide. It’s estimated that they transact more than $200 billion yearly with the smallest trading fees in the global market. Before this funding round, the company has raised more than $70 million in prior rounds. The website has been backed by Sir Richard Brandon, Google Ventures and Capital Funds.
Recently they’ve received significant backlash regarding the lack of SegWit. This forces the majority of clients to only trade with 9 Million of the 40 Wallets available, as 31 Million of the wallets are enabled with SegWit. The company plans to update its services shortly by providing SegWit. For now, there’s Stellar, Bitcoin Cash, Ethereum, Paxos and Bitcoin available.