#BullishIPO

In August 2025, the crypto exchange Bullish—backed by Peter Thiel and parent company of CoinDesk—successfully launched its initial public offering (IPO) on the NYSE, raising approximately $1.1 billion by pricing shares at $37, well above earlier estimates. Demand was extraordinary: the offering was oversubscribed over 20 times, and the stock exploded in debut, opening near $90 and surging as high as $118, delivering gains over 140–176% and pushing Bullish’s valuation to between $13 billion and $15 billion.