EddieJayonCrypto
11 Jun 25
Crypto exchange Bullish has filed for an initial public offering (IPO) with the Securities and Exchange Commission, marking its second attempt to go public after a failed $9 billion merger in 2021. The renewed effort follows favorable market conditions and policies under President Donald Trump. This...
Crypto exchange Bullish has filed for an initial public offering (IPO) with the Securities and Exchange Commission, marking its second attempt to go public after a failed $9 billion merger in 2021. This renewed effort comes amid improved market conditions and increased optimism in the crypto industry under policies enacted following President Donald Trump's election.
Bullish's first attempt to go public involved a merger with special purpose acquisition company Far Peak in July 2021, but this deal fell through by late 2022 due to time constraints and unfavorable market conditions. Now, the company is capitalizing on a steadier Bitcoin market and historically low volatility to make another bid.
The move aligns with recent successful IPO launches within the crypto sector, such as Gemini's filing and Circle's entry on the New York Stock Exchange. Circle notably raised over $1.1 billion and saw its stock surge by 347% within days of its debut, signaling strong investor appetite for crypto-related public offerings.
Bullish operates a blockchain-based exchange and expanded its influence by acquiring the crypto media firm CoinDesk in 2023. The company is led by CEO Tom Farley, who brings significant experience from his tenure as president of the NYSE Group at the Intercontinental Exchange between 2014 and 2018. As of now, Bullish has not issued any public comments regarding the IPO filing.