#BullishIPO 🚀 What is #BullishIPO?

Bullish, the cryptocurrency exchange backed by Peter Thiel, is launching its Initial Public Offering (IPO) in the U.S. with a target valuation of up to USD 4.2 billion. This is its second attempt to go public, after canceling a SPAC merger in 2022.

💰 Key Details

- Price per share: Between USD 28 and USD 31

- Shares offered: 20.3 million

- Capital to be raised: Up to USD 629 million

- NYSE symbol: BLSH

- Estimated listing date: August 12

🧠 Financial Strategy

Bullish plans to convert part of the revenue into dollar-denominated stablecoins, taking advantage of the new favorable regulatory framework in the U.S. (such as the GENIUS Act).

🦾 Who's behind it?

- CEO: Thomas Farley, former president of the New York Stock Exchange

- Interested investors: BlackRock and ARK Investment Management

- They also own CoinDesk, the second most read crypto media outlet in the world

📉 Challenges

- Reported a loss of USD 349 million in the last quarter, attributed to the drop in the value of its crypto assets

- Still, analysts are more focused on its efficiency as an institutional exchange