Blockchain.com is targeting a $500M IPO this year at a $4B to $6B valuation, well below its $14B peak in 2022, Bloomberg reports.

The company filed confidentially with the SEC in May and could raise less than $500M if that helps complete the listing. It declined to comment. Recent crypto listings like Gemini, BitGo and eToro still trade roughly 50% to 80% below their post-IPO highs.

Last week Blockchain.com signed an MOU with NYSE to offer tokenized US stocks to its 44M+ accounts.

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