Peter Thiel-backed Bullish Files for $4.2B U.S. IPO

Bullish, the institutional crypto exchange backed by billionaire investor Peter Thiel, has filed for an IPO in the U.S., aiming for a $4.2 billion valuation.

IPO Details:

🔹 Target Raise: $629 million

🔹 Shares Offered: 20.3 million

🔹 Price Range: $28–$31 per share

🔹 Planned Listing: NYSE under ticker “BLSH”

Why It Matters:

🔹 This is Bullish’s second attempt to go public after a $9B SPAC deal was canceled in 2022.

🔹 The move follows recent U.S. policy shifts, including regulatory clarity around stablecoins (GENIUS Act), improving the environment for crypto IPOs.

🔹 Proceeds will partly be converted into USD-denominated stablecoins, showing strong institutional integration.

A key signal of renewed confidence in U.S. markets for crypto firms.

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