Cryptocurrency exchange Bullish Global is considering an IPO by the end of the year or early 2024. The company has consulted Jefferies Financial Group to explore the possibility of an initial public offering.
IPO Plans and Market Context
If the plans proceed, Bullish would join a growing list of crypto companies seeking to reach the stock market. Optimism in the industry is building, partly due to speculation that the US administration may take a more constructive stance on digital assets. This potentially favorable policy environment is attracting institutional investor interest.
About Bullish
Founded in 2021, Bullish operates a cryptocurrency trading platform and offers financial services for digital assets. Owned by Block.one, Bullish garnered attention in 2023 when it acquired CoinDesk from Digital Currency Group for an undisclosed amount. The company launched with a strong financial backing, including approximately $10 billion in digital assets and cash.
Investors and Previous Public Market Attempts
Bullish has attracted investors like Peter Thiel, Alan Howard, billionaire traders Louis Bacon and Richard Li, and Japan’s banking giant Nomura. Previously, Bullish aimed to go public via SPAC in 2021 but abandoned those plans. The current market conditions appear more favorable for the company.
Discussions remain in the early stages, and additional investment banks might enter the process. This move reflects increasing confidence in crypto trading platforms and promising market conditions for Bullish.
