Blockchain.com Funding Round Cuts Valuation in Half; JPMorgan Skeptical of Crypto Market Enthusiasm

Blockchain.com, a cryptocurrency exchange, has raised $110 million in a Series E funding round led by Kingsway Capital, resulting in a significant decrease in its valuation. JPMorgan Chase is skeptical about the recent cryptocurrency market enthusiasm, particularly regarding the possible approval of spot bitcoin ETFs. The bank's analysts doubt that new capital will be invested in crypto if ETFs are approved, and they predict that existing funds will move from current bitcoin products into ETFs.