#BullishIPO Bullish, a cryptocurrency exchange backed by Peter Thiel, has successfully upsized its IPO target to $990 million, with a valuation of up to $4.8 billion. Here's what's happening¹ ²:

- *IPO Details*:

- *Number of shares*: 30 million shares offered at $32 to $33 each

- *Valuation*: Up to $4.8 billion, with potential to reach $5.4 billion after shares were sold at $37 each

- *Listing*: New York Stock Exchange (NYSE) under the ticker symbol BLSH

- *Investor Interest*:

- *BlackRock and ARK Investment Management*: Expressed interest in buying up to $200 million worth of shares

- *IPO oversubscription*: More than 20 times oversubscribed, indicating strong demand

- *Company Overview*:

- *Assets*: Over $3 billion in liquid assets, including 24,000 bitcoin, 12,600 ether, and $418 million in cash and stablecoins

- *Business*: Institutional crypto platform with spot, margin, and derivatives trading, targeting 50+ countries excluding the US

- *Ownership*: CoinDesk acquisition for $72.6 million, expanding into crypto media

- *Lead Underwriters*:

- *JPMorgan Chase*

- *Jefferies Financial Group*

- *Citigroup*

- *Future Plans*:

- **Stablecoin