Bullish Crypto Exchange, Backed by Peter Thiel, Charges Toward IPO in U.S.!

Second Time's the Charm for Bullish After SPAC Setback

Hang onto your hats, folks! Bullish, the crypto exchange with Peter Thiel's backing, just threw its hat in the ring for an initial public offering in the U.S. That's right, they've confidentially filed with the SEC and they're ready to ride the IPO wave. And guess what? Jefferies is leading the charge as the underwriter for this bold move.

This isn't Bullish's first rodeo. Remember their attempt to go public with a SPAC merger back in 2021? Yeah, that fizzled out last year when the stock market took a nosedive thanks to those pesky rising interest rates. But Bullish isn't letting that stop them. They're back, and they're more determined than ever!

Crypto IPO Frenzy: Bullish Joins the Party

It's like a crypto IPO party out there, and Bullish is just the latest guest to arrive. Circle, the brains behind the USD Coin (USDC) stablecoin, hit the public markets last week and their shares? They skyrocketed over 300% right out of the gate. Talk about a blockbuster debut! And they're not alone. Gemini, the exchange created by the Winklevoss twins, filed their own confidential IPO papers earlier this month. Even Uphold, another digital asset platform, is mulling over their own IPO. It's a crypto gold rush, baby!

But not everyone's jumping on the IPO bandwagon. Tether, the powerhouse behind the world's biggest stablecoin USDT, is sitting this one out. Their CEO, Paolo Ardoino, says they're cool with their profits and focused on playing the long game. No need to go public when you're already winning, right?