PK Banks

Post-pitch story

PK Banks pitched CBlocks as an easy, playful way into cryptocurrency: a "mystery box" of coins for people curious about crypto but unsure where to start. The timing was dramatic. In May 2018, at the height of the first crypto boom, Business Insider reported that CBlocks was moving its operations from Miami to Canada to escape unclear U.S. rules about which businesses count as money services. The company raised a small final round of about $50,000 in early 2020. It never found a path to scale, and Dealroom lists CBlocks as entering bankruptcy liquidation in January 2025. Its website is no longer active, and Banks now works as an independent software developer. CBlocks is one of the season's clearest reminders that a hot market can be the hardest kind to build in, especially while the rules are still being written.