Blockchain.com said the institutional backing will power an increasingly institutional-minded business.
Blockchain.com on Wednesday disclosed $120 million in fresh funding from a lineup of “macro investors” seeking to power the wallet startup’s growing institutional markets business through bitcoin’s current bull run.
Moore Strategic Ventures, Kyle Bass, Access Industries, Rovida Advisors, Lightspeed Venture Partners, Google Ventures, Lakestar and Eldridge led the round, CEO Peter Smith said in a blog post.
The institutional funding is set to back an increasingly institutional-centric company. Blockchain.com now makes enough cash from its institutional clients to cover all global operating costs and expects that business to continue “growing exponentially.”
“The fact that the best macro investors in the world participated in our latest fundraise is further proof that institutions are taking a serious look at their crypto strategy,” Smith said.
Originally published by
Danny Nelson | February 17, 2021
Coindesk
