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BlockFi, founded in 2017 and headquartered in Jersey City, New Jersey, is a leading financial services company specializing in cryptocurrency products. The company offers a range of services, including interest-earning accounts, crypto-backed loans, and zero-fee trading, catering to both retail and institutional clients.
Since its inception, BlockFi has experienced rapid growth, with over 1 million verified clients and 350 global institutions managing more than $10 billion in assets. The company's innovative products, such as the BlockFi Interest Account and the Bitcoin Rewards Credit Card, have gained significant traction in the market. BlockFi's success is evident in its impressive revenue growth, with reports suggesting a 22x increase from 2019 to 2020, reaching approximately $100 million.
While there is no official confirmation regarding BlockFi's IPO plans, the company has attracted substantial investor interest. BlockFi has raised over $950 million in funding across multiple rounds, with its most recent Series E round in July 2021 valuing the company at $4.75 billion. Notable investors include Bain Capital Ventures, Coinbase Ventures, and Tiger Global Management.
It's important to note that BlockFi operates in a rapidly evolving regulatory landscape. In February 2022, the company agreed to pay $100 million to settle charges related to its retail crypto lending product with the SEC and 32 states. This regulatory development, along with the company's ongoing efforts to register new products with the SEC, may influence any potential IPO considerations.
As the cryptocurrency and blockchain industry continues to mature, companies like BlockFi play a crucial role in bridging traditional finance with digital assets. Investors interested in the potential for BlockFi stock or shares should keep an eye on official announcements from the company regarding any IPO plans.
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While BlockFi's IPO prospects remain uncertain, investors interested in the cryptocurrency lending space don't have to wait on the sidelines. At Linqto, we offer members access to interests in promising private companies before they go public, including potential leaders in the fintech and cryptocurrency sectors. Our platform allows you to diversify your portfolio with pre-IPO investments in companies like BlockFi, with lower minimum investments than traditional private equity opportunities. This unique access could potentially position you to benefit from the growth of emerging industry leaders before they hit the public markets.
*These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO. The information provided above is based on current online discussions and is not intended as investment advice. Linqto does not endorse or guarantee the accuracy of this information, and we strongly recommend conducting your own research or consulting with a professional advisor before making any investment decisions. Linqto cannot be held liable for any investment outcomes resulting from the use of this information.