Blockchain.com targets multi-billion dollar IPO as it files confidential S-1 with SEC

Blockchain.com, one of the oldest surviving names in crypto, filed a confidential draft S-1 registration statement with the SEC on May 21, 2026, setting the stage for what could be one of the year’s most closely watched public offerings in the digital asset space. The company is targeting roughly $500 million in proceeds and a valuation between $4 billion and $6 billion. That’s a significant haircut from the $14 billion valuation it commanded at its 2022 peak, and even below the approximately $7 billion it secured during a Series E round in 2023. From peak hype to pragmatic pricing The company has reportedly been profitable on an adjusted basis for the past three years, which gives it something many crypto IPO candidates lack: actual earnings to point to. With roughly 500 employees, the firm runs leaner than many might expect for a platform supporting approximately 95 million wallets and more than 43 million confirmed accounts. Since its founding in 2011, Blockchain.com has facilitated over $1.1 trillion in total transaction volume, a number that puts it in rare company among crypto-native firms that have survived multiple market cycles. The NYSE partnership adds a twist Just days ...