Quick take:
Bullish Capital was founded by Block.One, which invested $9.3 billion worth of bitcoin into the exchange in May 2021.
Block.One is also known for developing the EOSIO software that underpins the EOS blockchain.
The IPO will likely value Bullish at about $20 billion, according to reports on Wednesday.
Bullish, a UK-based crypto exchange company backed by funds linked to Peter Thiel and the likes of Alan Howard, co-founder of Brevan Howard, hedge fund manager Louis Bacon and Richard Li, the CEO of Hong Kong Telecom has filed for an initial public offering (IPO).
Block.One, the developers of the EOSIO software that underpins the EOS blockchain founded Bullish, investing $9.3 billion worth of Bitcoin in 2021.
Bullish’s announcement is believed to be a result of Circle’s successful debut on the New York Stock Exchange which saw its stock price more than triple following the listing. Reports suggest Bullish’s IPO could be valued north of $20 billion amid recent listings on Wall Street.
Last week, the Winklevoss brothers, the founders of Gemini, also confidentially filed for a U.S. IPO with the SEC.
Bullish has been expanding its product offerings beyond exchange services. In November 2023, it boosted its media presence with the acquisition of the crypto media platform CoinDesk from Digital Currency Group.
In May, eToro also went public raising $620 million for the company and shareholders in an oversized IPO that valued the online trading platform at $5.4 billion.
The appetite for U.S. public listing has also been linked to the Trump-driven campaign to develop a clear framework for regulating digital assets. The Securities and Exchange Commission has since dropped or paused several cases against crypto companies, including those against Kraken, Robinhood and Coinbase.
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The post Thiel-Backed Crypto Exchange Bullish Becomes the Latest to File for an IPO appeared first on NFTgators .
