#BullishIPO

Bullish, a cryptocurrency exchange backed by Peter Thiel and led by former New York Stock Exchange president Tom Farley, debuted on the New York Stock Exchange (NYSE) with great strength. The company set the price of its IPO at $37 per share, above the expected range, and raised approximately $1.1 billion. When it began trading under the symbol BLSH, the stock started at nearly $90, reached an intraday high of $118, and closed around $68, reflecting an impressive increase of over 80% from the offering price. This surge quickly boosted Bullish's market capitalization to about $10 billion–$13 billion. The exchange, which also owns CoinDesk, is distinguished by focusing on institutional clients, integrating DeFi protocols with the security of a centralized platform, and reported a notable shift toward profitability after a previous period of losses.