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The Cryptocurrency Exchange Supported by Billionaire Entrepreneur Peter Thiel Has Filed for an IPO in the US! Here Are the Details
The cryptocurrency exchange Bullish, supported by billionaire entrepreneur Peter Thiel, has filed for a confidential IPO in the US.
Peter Thiel Supported Crypto Exchange Bullish Applies for IPO in the US
According to a report by Financial Times based on two sources close to the matter, the company submitted the necessary documents to the US Securities and Exchange Commission in recent weeks.
The secret IPO process allows companies to carry out their preparations for public offerings without disclosing financial details to the public. After the preparations are completed, more comprehensive information is provided to investors and the official process is initiated.
According to the news, during the IPO process, Jefferies will serve as the lead underwriter (.
Bullish is a regulated and independently audited global cryptocurrency exchange, according to its website. It is stated that the company holds various Tier-1 licenses. In November 2023, it gained attention by acquiring the crypto media platform CoinDesk from Digital Currency Group.
Bullish had previously attempted to go public through a special purpose acquisition company )SPAC( in 2021, but was unable to execute this plan.
This new IPO initiative came right after the successful IPO of another cryptocurrency company, Circle, which made a big splash last week. With the IPO, Circle achieved a valuation of $1.1 billion, and its shares had risen nearly 200% on the first day.
Circle shares, despite falling to $105.91 with an 8.1% drop this Tuesday, are still trading well above the $31 IPO price.
Bullish's move indicates that institutional crypto companies' interest in being listed on U.S. exchanges has strengthened again.
*This is not investment advice.
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