Blockchain.com's Secret to Survival in Crypto's Turbulent Waters

The cryptocurrency industry has faced numerous challenges over the years, including extreme price volatility and market crashes. Blockchain.com, which was founded in 2011, has managed to stay afloat despite these challenges. Co-CEO Lane Kasselman attributes their success to a counter-cyclical business model that prioritizes maintaining clean books and avoiding legal troubles.

Kasselman notes that many crypto companies that have gone bankrupt or failed were driven by a desire to skirt the law, rather than the industry's high volatility. Blockchain.com has focused on getting licenses from regulators and doing things right, which has allowed them to grow more slowly but sustainably.

The company's approach was put to the test during the COVID-19 pandemic, when many crypto companies laid off employees. However, Blockchain.com saw an opportunity and hired new staff, anticipating a market rebound. They were correct, and before the end of 2020, Bitcoin had reached new all-time highs.

Even in 2022, when Bitcoin's price fell by 77%, Blockchain.com continued to thrive by raising new capital. At least $110 million was raised during this time, which turned out to be a good decision as the company is now eyeing an IPO.