Blockstream

What is Blockstream in Crypto?

Blockstream is a leading blockchain technology company founded in 2014 by a team including Dr. Adam Back, a renowned cryptographer and early Bitcoin contributor. Headquartered in Victoria, British Columbia, Canada, Blockstream specializes in developing innovative solutions to enhance the Bitcoin ecosystem, focusing on scalability, security, and financial applications.

Core Business and Services

Blockstream's offerings encompass a range of products and services designed to strengthen Bitcoin's infrastructure:

• Liquid Network: A Bitcoin layer-2 sidechain facilitating fast, confidential transactions and asset issuance.
• Core Lightning: An implementation of the Lightning Network protocol, enabling scalable and low-cost Bitcoin micropayments.
• Blockstream Satellite: A service broadcasting the Bitcoin blockchain via satellite, ensuring global access even without internet connectivity.
• Blockstream Green & Jade Wallets: Secure, user-friendly wallets supporting both Bitcoin and Liquid assets.
• Blockstream AMP: An API for issuing and managing digital assets on the Liquid Network.
• Blockstream Finance: Financial products and services tailored for the Bitcoin era, including investment vehicles and asset management solutions.

Financial Performance and Growth

In October 2024, Blockstream raised $210 million in a financing round led by Fulgur Ventures, bringing its valuation to $3.2 billion. This capital infusion has accelerated the company's expansion across various domains, including infrastructure development, software offerings, and institutional investment products. 

Recent Developments

• Blockstream Mining Spin-Off: In 2025, Blockstream Mining became an independent entity, securing over $350 million in funding to scale its operations. Chris Cook, former President of Blockstream Mining, now serves as CEO, with Dr. Adam Back continuing in an advisory role.
• ASIC Division Spin-Off: The company's ASIC division has been spun out as a separate company under the leadership of Assaf Gilboa, focusing on research and development of specialized mining hardware.
• Blockstream Asset Management (BAM): Launched in early 2025, BAM offers Bitcoin-native investment products targeting institutional investors such as pensions and endowments. Led by CIO Sean Bill, BAM aims to bridge traditional finance with Bitcoin's ecosystem.
• Global Expansion: Blockstream has opened a new office in Tokyo to drive adoption of Bitcoin layer-2 solutions in Asia and established a research center in Lugano, Switzerland, to foster innovation in Liquid and Lightning technologies. 

Controversies and Criticisms

Blockstream has faced criticism from some in the cryptocurrency community regarding its influence over Bitcoin's development and perceived centralization. Additionally, CEO Dr. Adam Back has been a subject of debate concerning his role in Bitcoin's history and development.

Future Outlook

Blockstream continues to play a pivotal role in advancing Bitcoin's infrastructure and financial applications. With ongoing investments in layer-2 technologies, mining operations, and institutional financial products, the company is well-positioned to support Bitcoin's growth and adoption in the coming years.