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yesterday

Bullish Files Confidential IPO Registration as Crypto Market Surges

The Peter Thiel–backed exchange seeks to capitalize on soaring bitcoin valuations under Donald Trump’s crypto-friendly regulations

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. Picture taken May 12, 2021. REUTERS/Andrew Kelly/File Photo
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Overview

  • Bullish has confidentially submitted an IPO registration with the SEC, marking its second attempt to go public
  • The company’s initial $9 billion SPAC merger with Far Peak was called off in late 2022 amid unfavorable market conditions
  • Bullish operates a blockchain-based trading platform and broadened its footprint by acquiring CoinDesk in 2023
  • Bitcoin’s rally above $110,000 this year and President Trump’s regulatory shifts have bolstered investor appetite for crypto listings
  • Jefferies Financial Group is serving as lead underwriter and CEO Tom Farley brings experience from his tenure as NYSE Group president