Cryptocurrency exchange and financial services firm,, has reportedly raised new funding at a valuation of $14 billion.

According to Bloomberg, the financing round was led by global venture capital firm Lightspeed Ventures and Baillie Gifford & Co., an investment management firm renowned for its early involvement in growth stocks such as Tesla.

The funding round — which is yet to be publicly confirmed by or the investors — reportedly saw the firms’ valuation increase from $5.2 billions to $14 billion. The total amount of funding raised is yet to be announced.

Founded in 2011, is now one of the world’s largest cryptocurrency companies and offers a wide range of blockchain-based financial services from its exchange platform and crypto wallets all the way to specific institutional products. It has 37 million verified users with 82 million wallets and over $1 trillion in total transaction value across its platform.

In April of last year, made headlines after securing a $100 million investment from Baillie Gifford & Co., which, at the time, was the single largest investment ever made in the company.

Related: NFT creator Yuga Labs raises $450M, bringing company valuation to $4B’s last major funding round occurred in March 2021, with the Series C round seeing the firm raise $300 million at a $5.2 billion valuation. The funding round was led by DST Global Partners, Lightspeed Venture Partners and VY Capital. Prior to this, the company raised $120 million ongoing from a wide array of VC firms, with the financing largely aimed at institutional business development.

This week, added its name to the list of companies withdrawing from the United Kingdom's Financial Conduct Authority’s (FCA) temporary register for crypto-asset licensing, which outlines that firms must be approved under an Anti-Money Laundering (AML) scheme or cease trading by Thursday. withdrew its application on Tuesday, choosing to operate in Europe via a Lithuanian registration instead. On March 11, BC2C, an institutional cryptocurrency trading provider also withdrew from the United Kingdom, planning instead to conduct its operations through a United States entity.