Crypto Exchange Bullish Global is considering selling shares to the public for the first time at some point in 2025, Bloomberg reported and cited people who are familiar with the case.

The company, which owns Coindesk, is collaborating with Jefferies Financial Group on the potential listing, Bloomberg said.

Lecture on an preliminary public offer (IPO) comes as the prices of Bitcoin (BTC) and other Cryptocurrencies have shot up since Donald Trump won the US election in November. The total crypto market has risen to $ 3.15 trillion from $ 2.2 trillion. On Tuesday, US Crypto Czar David Sacks talked about a golden age for digital assets.

Led by CEO Tom Farley, Bullish has more than 275 employees around the world including Hong Kong, USA and Europe. It is a subsidiary of Block.one, a blockchain software company led by Brendan Blumer, whose backers include Peter Thiel, Alan Howard and Richard Li.

Blumer, which also serves as Bullish’s chairman, launched the company in 2021. Bullish has about $ 10 billion in digital assets and cash, according to the report. It had planned to become public through a acquisition of special purposes (SPAC) in 2021. The plan was canceled the following year.

Discussions about the IPO are underway, including additional bank partners, Bloomberg said.

Representatives from Bullish and Block.one did not respond to Bloomberg, and Jefferies refused to comment. A Coindesk -e -Mail to Bullish seeking comment was not answered before publication.