The Peter Thiel-backed exchange is exploring a public listing as the market anticipates favorable regulation.
Bullish Global Evaluates Public Listing
Crypto exchange operator Bullish Global is reportedly considering an initial public offering (IPO) in 2024. According to sources, the firm is working with Jefferies Financial Group to explore the listing, though final details remain undecided. The move would position Bullish among a growing number of crypto firms looking to go public.
Pro-Crypto Climate Boosts IPO Prospects
Bullish’s IPO discussions come amid expectations that President Donald Trump’s administration will take a pro-crypto stance. The company had previously planned to go public via a special purpose acquisition company (SPAC) in 2021 but later postponed the move.
Bullish’s Expansion and Key Backers
Led by CEO Tom Farley, Bullish has over 275 employees and operates in the US, Hong Kong, Singapore, Gibraltar, and the Cayman Islands. The firm is a subsidiary of Block.one, a blockchain software company backed by Peter Thiel, Alan Howard, Louis Bacon, and Richard Li. Block.one launched Bullish in 2021, providing it with $10 billion in digital assets and cash.
Uncertain Timeline for the IPO
While deliberations are ongoing, sources indicate that the offering structure and bank lineup could change. Representatives for Bullish, Block.one, and Jefferies declined to comment on the matter.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
