Reuters: Bullish plans to expand IPO size and raise target valuation to $4.82 billion

BlockBeats news, on August 11, according to Reuters, the cryptocurrency trading platform Bullish, supported by Peter Thiel, has expanded its initial public offering (IPO) size, now targeting a valuation of up to $4.82 billion. This is a significant increase from last week's target of $4.2 billion, reflecting a sudden surge in market enthusiasm for digital assets. The new plan aims to sell 30 million shares at a price of $32 to $33 per share. At the highest price point, Bullish could raise approximately $990 million, an increase from the earlier plan (selling 20.3 million shares at $28 to $31 per share).

Bullish was launched in 2020 by Block.one (the blockchain company behind EOS), and BlackRock and Cathie Wood's ARK have indicated plans to purchase $200 million in shares. Bullish is expected to price on Tuesday and begin trading the next day under the code 'FLY'.