The Latest Money Round
Blockchain.com, the popular cryptocurrency wallet, is reportedly in the midst of negotiating a hefty $50 million funding round. Sources from Yahoo! Finance hinted at this exciting development on September 4. The funds will reportedly be used for equity investments and snagging some undisclosed cryptocurrency tokens. Talk about a shopping spree in the digital bazaar!
Expansion Plans Unveiled
As Blockchain.com aims at expanding its reach beyond Bitcoin, they are turning heads – and not always in a good way. Taking charge of these negotiations is the company’s co-founder Sam Harrison, who has been on board since 2018 working to diversify their portfolio and establish Blockchain.com Ventures. It seems that Harrison has his work cut out for him, especially with the recent industry shifts.
Returning to Recent Criticism
While Blockchain.com is strutting toward fresh expansion, it hasn’t come without a fair share of criticism. Their ambitious attempts to diversify have sparked disapproval from Bitcoin purists. A notable bone of contention is their $125 million giveaway involving the altcoin Stellar (XLM) last November. Not to mention, the company has been called out for their reluctance to implement Segregated Witness (SegWit)—a technology that could drastically lower transaction fees for their Bitcoin users.
Community Response
The debates around Blockchain.com have reached passionate heights. Take, for instance, the recent remarks from BashCo, an influential Reddit moderator of the r/Bitcoin subreddit. He didn’t mince words when expressing dissatisfaction regarding Blockchain.com’s failure to integrate SegWit. His argument? Since SegWit’s activation in August 2017, the wallet has amassed 31 million non-compatible wallets. That’s a sizable clique left in the lurch!
The Road Ahead
So what’s next for Blockchain.com? Only time will tell if this funding round will ease tensions and position the wallet service favorably within an increasingly competitive marketplace. With their eye on innovation and the naysayers breathing down their necks, Blockchain.com might just pull a rabbit out of the hat—if they can keep their critics satisfied.
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