Bullish Global Considers IPO in 2025 Amid Strong Crypto Market Growth
Bullish Global, the crypto exchange backed by Block.one and supported by notable figures like Peter Thiel, is exploring the possibility of going public in 2025, Bloomberg reported, citing sources familiar with the matter.
The company is working alongside Jefferies Financial Group to assess the feasibility of an initial public offering (IPO). This move comes as the crypto market experiences a significant uptick, with bitcoin and other digital assets reaching new highs after Donald Trump’s election win. The total crypto market cap has soared from $2.2 trillion to $3.15 trillion since November. On Tuesday, U.S. crypto czar David Sacks spoke about entering a “golden age” for digital assets.
Bullish, led by CEO Tom Farley, employs over 275 people across multiple regions, including Hong Kong, the U.S., and Europe. As a subsidiary of Block.one, a blockchain software firm founded by Brendan Blumer, Bullish boasts around $10 billion in digital assets and cash. Originally, Bullish planned to go public via a SPAC in 2021, but those plans were put on hold in 2022.
The company is currently in discussions about the IPO, exploring potential partnerships with additional banking institutions, Bloomberg noted.
Neither Bullish nor Block.one responded to requests for comment, and Jefferies declined to comment on the matter.
