Denying Claims of “Sold” for Giant Cryptocurrency Exchange

It was denied that Blockchain.com claimed that it was trying to sell its assets due to capital needs. A source close to the matter told The Block that Blockchain.com is not selling its assets or any of its subsidiaries, and that there are no discussions with Coinbase about possible deals.

Decrypt had claimed that the collapse of cryptocurrency hedge fund Three Arrows Capital (3AC) in 2022 left the company with a $270 million gap, and Blockchain.com was trying to sell its assets due to capital needs. Decrypt cited multiple unnamed sources that gave information about talks with the company’s executives over the past two months to sell parts of the company, including Coinbase. Speaking to The Block, a source acknowledged that Blockchain.com is selling its illiquid assets to become more liquid to make a profit and take advantage of opportunities, but “No Blockchain.com affiliates are for sale. Blockchain.com is an asset buyer, not a seller.” said.

A report by Bloomberg News in December cited Blockchain.com as one of several companies reportedly interested in acquiring derivatives exchange and trading platform LedgerX. In October, Blockchain.com managed to raise an undisclosed amount of additional capital in a funding round led by UK-based investment firm Kingsway Capital.