Anonymousabout 1 hour ago
Blockchain.com, one of crypto's oldest companies, has confidentially filed an S-1 with the SEC for a U.S. IPO, targeting a listing in 2026 after surviving $270 million in Three Arrows Capital losses and a valuation halving from its $14 billion peak. The filing comes as the 2025 class of crypto IPOs shows a stark winner-loser divide — only Circle and Galaxy Digital trade above their debut prices — raising pointed questions about whether Blockchain.com's wallet-first business model and claimed adjusted profitability can support a public-market premium against larger, better-capitalized rivals.