Crypto exchange Bullish, backed by entrepreneur Peter Thiel, successfully completed its initial public offering (IPO), raising $1.1 billion.
Successful Bullish IPO
The company confirmed on its website that it sold 30 million shares at $37 each, even though the original price range was between $32 and $33.
Investor Interest and Company Valuation
Based on data filed with the U.S. Securities and Exchange Commission, Bullish now carries a $5.4 billion valuation. The IPO ended up being more than 20 times oversubscribed, showing insane demand.
Stablecoin Regulation and IPO Impact
In July, President Donald Trump signed a federal law to regulate stablecoins, boosting companies like Bullish in entering public markets.
Bullish is set to begin trading on the New York Stock Exchange under the symbol BLSH. The success of the IPO highlights the growing interest in crypto investments and the significance of regulation in this sector.
