Crypto Exchange Bullish confidentially filed a US original public offer, the Financial Times reported Wednesday with reference to people who are familiar with the situation.
The company aims to take advantage of renewed enthusiasm for digital assets driven by pro-crrypto-political signals from the Trump administration and follows last week’s stock exchange listing of stableecoin Essuer Circle (CRCL), whose shares rose 168% on the first day of trading.
FT did not distinguish between Bullish Exchange and its parent, Bullish Group, the Peter Thiel-supported company, which is also the parent of Coindesk.
The confidential archiving of Securities and Exchange Commission allows Bullish to prepare for a public list while keeping financial details private for now. Jefferies will serve as main insurance according to the Financial Times.
Bullish earlier tried to publish in a SPAC agreement in 2021. The plan collapsed the following year in the middle of market volatility. Bullish Exchange is a Gibraltar -regulated trading platform.
This time, the IPO archiving comes as Bitcoin trades about $ 110,000, and the crypto mood strengthens in the midst of favorable regulatory winds after the election of US President Donald Trump.
The group is led by CEO Tom Farley, a former president of NYSE Group, and led by Brendan Blumer from Block.One. Thiel is co -founder of PayPal (PYPL) and an early investor on Facebook, now Meta (Meta).
Jefferies refused to comment on FT. Bullish did not respond to FT and had not responded to a Coindesk request for comment after publication time.
Read more: Bullish Global weighs IPOs as early as this year in the middle of Crypto Market Optimism: Bloomberg
