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Bullish Global Considers IPO, Citing Bloomberg Report
Company Background
Bullish Global, a crypto exchange owned by CoinDesk, is considering selling shares to the public for the first time in 2025, according to a Bloomberg report. The company is working with Jefferies Financial Group on the potential listing.
Market Trends
The prices of bitcoin (BTC) and other cryptocurrencies have surged since Donald Trump’s election in November, with the total crypto market climbing to $3.15 trillion from $2.2 trillion. On Tuesday, U.S. crypto czar David Sacks spoke about a golden age for digital assets.
Company Information
Bullish Global has more than 275 employees worldwide, including in Hong Kong, the U.S., and Europe. The company is led by CEO Tom Farley and is a subsidiary of Block.one, a blockchain software company backed by Peter Thiel, Alan Howard, and Richard Li. Blumer, who also serves as Bullish’s chairman, launched the company in 2021. Bullish has around $10 billion in digital assets and cash, according to the report.
IPO Plans
The company had initially planned to go public via a special purpose acquisition company (SPAC) in 2021 but canceled the plan the following year. Discussions around the IPO are ongoing, including additional banking partners, Bloomberg said.
Representatives’ Comments
Representatives from Bullish and Block.one did not respond to Bloomberg’s request for comment, and Jefferies declined to comment. A CoinDesk email to Bullish seeking comment was not answered before publication.
Conclusion
The potential IPO of Bullish Global could be a significant event in the crypto market, considering the company’s strong position in the industry. The surge in cryptocurrency prices and the growing interest in digital assets may have created an attractive opportunity for investors to get involved in the market.
FAQs
Q: What is Bullish Global?
A: Bullish Global is a crypto exchange owned by CoinDesk.
Q: Who is the CEO of Bullish Global?
A: The CEO of Bullish Global is Tom Farley.
Q: What is the total crypto market size?
A: The total crypto market size is $3.15 trillion.
Q: Who are the backers of Block.one?
A: The backers of Block.one include Peter Thiel, Alan Howard, and Richard Li.
Q: What was the initial plan for Bullish Global’s going public?
A: The company initially planned to go public via a special purpose acquisition company (SPAC) in 2021 but canceled the plan the following year.
