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Blockchain CEO Peter Smith. Photo: Bloomberg

Blockchain CEO Eyes IPO Amid Crypto Rout

Photo: Blockchain CEO Peter Smith. Photo: Bloomberg

2018 was a tough year for the cryptocurrency industry, as the total market capitalization of all digital tokens plummeted from $800 billion in January to around $130 billion in late December. But Peter Smith, the CEO of Blockchain, says businesses like his, which earn revenue off people (and businesses) buying and selling tokens, can still do well amid widespread selling pressure in cryptocurrency markets—as long as volume holds up.

The London-based company operates a platform used by more than 30 million people to trade and store cryptocurrencies, and its leadership hopes to take the firm public in the next few years. It has raised a total of $70.6 million from investors such as Richard Branson, Lightspeed and Digital Currency Group. The firm recently poached a CFO from Wall Street, Macrina Kgil, who has IPO experience.

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