Blockchain.com Tests a Cold IPO Market After Kraken, Ledger Paused

Blockchain.com has filed a confidential draft registration statement (S-1) for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC).

The Dallas-based crypto firm aims to list publicly this year, joining a thinning queue of 2026 debuts.

A Crypto Veteran Reaches for Wall Street

Among the oldest active crypto services companies, Blockchain.com has not disclosed shares or a price range. According to Bloomberg, the firm employs 500 staff and has been profitable on an adjusted basis for three years. It supports over 95 million wallets and 43 million confirmed accounts.

Blockchain.com first weighed a public listing as early as 2022. The firm’s valuation rose to $14 billion in the spring of that year. A 2023 Series E round left it valued at less than half of that.

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Meanwhile, the firm follows Bullish and Gemini Space Station, the Winklevoss brothers’ venture, which went public in 2025 during a crypto rally. 

However, crypto markets have stayed under pressure since October’s record crash. Investor risk-off positioning has stalled the pace of new listings across the sector.

Payward, Kraken’s parent, postponed its IPO in March and is cutting 150 jobs to slim down. Hardware wallet maker Ledger has also paused its plans.

Blockchain.com’s bid, therefore, enters a more cautious public market than its predecessors faced. Pricing will hinge on token recovery and listing-day appetite.

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The post Blockchain.com Tests a Cold IPO Market After Kraken, Ledger Paused appeared first on BeInCrypto.