In a rather discreet manner, the crypto exchange Bullish is preparing to waltz into the public listing ball in the United States, as per the latest whispers from the financial grapevine. The company has, with all the subtlety of a cat burglar, filed confidential paperwork with regulators, a clever ruse that allows it to tiptoe forward in the listing process. 🕵️♂️
Not to be outdone, the American investment bank Jefferies has been crowned as the lead underwriter for this grand affair. One can only imagine the champagne flowing as they toast to their new venture. 🍾
While Bullish has chosen to remain as silent as a church mouse regarding its IPO aspirations, this clandestine filing is perceived as a strategic maneuver, especially as the regulatory winds seem to be blowing favorably for the cryptocurrency sector under the ever-controversial Donald Trump administration. Who knew politics could be so… profitable? 😏
Founded in 2021 by the illustrious Brendan Blumer, who still holds the title of chairman, Bullish is a proud offspring of the blockchain software firm Block.one. The company kicked off with a staggering $10 billion in digital assets and cash—because why not start big? Their previous attempt to go public in 2021 via a SPAC deal was as successful as a lead balloon, collapsing under the weight of unfavorable market conditions. 🎈
Now, under the watchful eye of CEO Tom Farley, a former President of the New York Stock Exchange, Bullish appears poised to take another stab at the public markets. Fingers crossed, right? 🤞
Rumor has it that discussions surrounding the offering are still in the works, and the company may even invite more banks to join the party. After all, what’s a good IPO without a few extra guests? 🎉
Crypto IPO Activity Gains Traction
In a delightful twist of fate, Bullish’s move comes amidst a veritable tsunami of successful public offerings by crypto-centric firms. Just last week, the USDC stablecoin issuer Circle made headlines with a jaw-dropping $1.1 billion IPO, sending its shares soaring by 167% on the very first day of trading. Talk about a rollercoaster ride! 🎢
In May, the social trading platform eToro decided to join the fray and went public on the Nasdaq. As of June 11, the company’s shares have risen by 30% from their IPO price of $52. It seems the market is in a generous mood! 💰
These listings are encouraging a veritable stampede of crypto companies eager to join the IPO parade. Even the Winklevoss twins’ brainchild, Gemini, has jumped on the bandwagon, filing confidentially for a US listing earlier this month. Who knew they could be so… proactive? 😜
Meanwhile, Ripple is also contemplating a potential IPO, with the resolution of the SEC’s XRP lawsuit likely to pave the way for such a bold move. If the market remains as favorable as a sunny day in June, Bullish could very well become the latest darling of the digital asset firms gracing Wall Street. 🌞
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2025-06-11 14:26