BlockFi in talks to raise funding at about $5 billion valuation – The Information

(Reuters) – Cryptocurrency startup BlockFi is in late-stage talks with new and existing investors to raise funding at a valuation of about $5 billion, the Information reported on Tuesday.

New York–based hedge fund Third Point Management, run by activist investor Daniel Loeb, and London-based venture firm Hedosophia are leading the financing, the report here said, citing people familiar with the matter.

The latest financing is not yet closed and the valuation could grow, the Information reported.

BlockFi did not immediately respond to a Reuters’ request for comment.

The company, founded in 2017, provides traditional financial services to cryptocurrency holders. Its platform manages more than $15 billion in assets.

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