Cryptocurrency exchange, Bullish, backed by billionaire Peter Thiel, has confidentially filed for an initial public offering (IPO) with the United States Securities and Exchange Commission (SEC), according to the Financial Times. Founded in 2021 by Blockone, the creators of the EOS blockchain, Bullish aims to ride the wave of optimism sparked by the Trump administration’s pro-digital asset policies.
Trump’s Crypto-Friendly Stance Boosts IPOs
Bullish’s decision to go public comes at an important moment. The Trump administration’s crypto-friendly stance, including the establishment of a Strategic Bitcoin Reserve, has fueled investor enthusiasm. The exchange, which started with a hefty $10 billion in digital assets and cash, is working with Jefferies Financial Group to navigate the IPO process.
A previous attempt to go public via SPAC in 2021 fell through, but current market conditions make this an ideal time. Bullish’s platform, built on the EOS blockchain, combines centralized exchange speed with DeFi benefits, enabling automated trading and portfolio management.
Thiel Influences Bullish’s Vision
Peter Thiel’s reputation as a visionary investor, coupled with his libertarian push to disrupt traditional finance, makes Bullish a magnet for institutional investors. The exchange, led by CEO Tom Farley, a former NYSE president, and chairman Brendan Blumer, operates globally with over 275 employees. Its 2023 CoinDesk acquisition amplified its influence, giving Bullish a strong voice in crypto media.
By leveraging the EOS blockchain for transparent, secure transactions, the exchange aims to attract both retail and institutional clients, setting itself apart from competitors like Coinbase. As Trump’s policies open new doors, Bullish is ready to step through, promising a thrilling ride for investors and crypto fans alike
Bullish’s IPO filing is a bold bet on a crypto-friendly future, which happens to look like a trend, as other firms have also sought to ride the tide. For example, crypto exchange Gemini recently announced that it has submitted a draft Form S-1 registration statement to the U.S. SEC for a proposed initial public offering (IPO) of its Class A common stock.
The filing marks a significant step for the New York-based crypto exchange, founded by the Winklevoss twins, as it aims to capitalize on the resurgent digital asset market.
