According to Jinse Finance, on September 29, Bloomberg reported citing insiders that the crypto exchange and wallet service provider Blockchain.com plans to complete its initial public offering (IPO) this year, seeking to raise about $500 million, with a target valuation range of $4 billion to $6 billion. Insiders said that if the listing process requires, the company is also willing to accept a smaller-scale issuance. Blockchain.com once reached a valuation of $14 billion during the previous peak of the crypto market, and this time the target valuation is significantly lower than that level. In May this year, the company secretly submitted a registration draft to the U.S. Securities and Exchange Commission to pave the way for a potential IPO, without disclosing the number of shares to be issued or the price range at the time. This listing plan comes as the capital market environment for crypto enterprises is reopening. Since the U.S. Treasury announced a significant increase in long-term Treasury repurchases in mid-August, the price of Bitcoin has risen by more than 30%, driving an overall rebound in the crypto market. However, market conditions remain challenging. According to Bloomberg data, the stock prices of recently listed companies such as Gemini, BitGo, and eToro have declined about 50% to 80% from their post-IPO highs.