- Nicolas Cary and Al Turnball were issued a summons from Companies House in May
- Blockchain.com attributed the delay in filing to a company restructure and a “significant reduction in the overall workforce”
- The business accounts for the year ending 2020 were not filed until October
Blockchain.com, which is based in London, is under legal scrutiny after two high-ranking officials neglected to file corporate documents punctually.
The Telegraph disclosed that Nicolas Cary, the co-founder and president of Blockchain.com, along with operations executive Al Turnball, received a summons from Companies House back in May.
The report explains that Blockchain.com only submitted its business accounts in October for the fiscal year ending 2020. Yet, the legal claims largely concern the company’s late submission of accounts for the year ending December 2022.
According to Blockchain.com, the postponement in filing was due to a restructuring of the business and a “significant reduction in the overall workforce,” which they indicated has required time for stability.
In the 2020 fiscal reports, Blockchain.com indicated that it engaged legal counsel and was preparing to contest the allegations against it.
The case was addressed at Cardiff Magistrates Court on September 25, with another hearing slated for November 26.
Founded in 2011 by co-founder Peter Smith alongside Nicolas Cary, Blockchain.com boasts 37 million verified users, operates in over 200 countries, offers more than 89 million wallets, and has facilitated transactions exceeding $1 trillion. Its investors include names like Baille Gifford, DST Global, and Google Ventures.
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