Originally published on: September 19, 2024
Blockdaemon, a leading provider of Web3 infrastructure solutions, is contemplating the possibility of going public with an initial public offering (IPO) in 2026. This ambitious plan was revealed in a recent interview by Bloomberg with Blockdaemon’s founder, Konstantin Richter.
Discussing the potential IPO, Richter shared his thoughts saying, “Let’s see how 2025 unfolds, and then I believe 2026 could be the right timing for such an endeavor.” He expressed a preference for listing Blockdaemon in Hong Kong over the United States due to concerns about the regulatory landscape for Web3 companies in the US.
Richter highlighted Asia as a significant growth driver for Blockdaemon, announcing the company’s plans to double its workforce in the region by 2025. He remains optimistic about the regulatory environment in the US post-elections, anticipating improvements regardless of the outcomes.
Blockdaemon, renowned for providing staking services for institutions, operates a range of blockchain infrastructure products including non-custodial wallets, nodes, and programming interfaces for various blockchains. Their staking-as-a-service offerings make it easier for clients to secure blockchains like Ethereum, Solana, and Avalanche.
The company boasts a comprehensive suite of products, known as the “Node Stack,” tailored to meet the demands of institutional clients navigating the complex blockchain ecosystem.
In a bid to strengthen its position in the market, Blockdaemon concluded a successful $207 million private funding round in 2022, elevating its valuation to a staggering $3.25 billion. The company’s rapid growth and success have attracted investments from major Wall Street firms like Goldman Sachs, JPMorgan Chase, and Citi Ventures.
As cryptocurrency investment products gain regulatory approval, the US financial markets are witnessing a surge in blockchain infrastructure companies like Blockdaemon. With the recent debut of exchange-traded funds holding spot Bitcoin and Ether, the total assets under management (AUM) have surpassed $60 billion collectively.
With a solid foundation of over 400 institutional clients, Blockdaemon is poised to reshape the Web3 landscape, setting its sights on a landmark IPO in 2026. Stay tuned for more updates on this groundbreaking move by Blockdaemon.
