Bullish Global Considers IPO in 2025
According to a recent report from Bloomberg, crypto exchange Bullish Global is contemplating the possibility of launching its initial public offering (IPO) sometime in 2025. This information comes from sources familiar with the company’s plans. Bullish Global, which is also the parent company of CoinDesk, is currently collaborating with Jefferies Financial Group to explore this potential public listing.
The discussions surrounding the IPO are particularly timely, as the prices of bitcoin (BTC) and various other cryptocurrencies have surged following Donald Trump’s victory in the U.S. elections last November. This bullish trend has contributed to a remarkable increase in the total cryptocurrency market capitalization, which has risen from approximately $2.2 trillion to a staggering $3.15 trillion.
On a related note, U.S. crypto czar David Sacks recently remarked on the advent of a golden age for digital assets, further highlighting the optimism surrounding the market.
Under the leadership of CEO Tom Farley, Bullish employs over 275 individuals across various global locations, including Hong Kong, the United States, and Europe. The company operates as a subsidiary of Block.one, a prominent blockchain software firm led by Brendan Blumer, whose notable investors include Peter Thiel, Alan Howard, and Richard Li.
Brendan Blumer, who also holds the position of chairman at Bullish, established the company in 2021. As of the latest reports, Bullish is said to possess around $10 billion in digital assets and cash. Initially, the company had plans to go public through a special purpose acquisition company (SPAC) back in 2021, but those plans were ultimately scrapped the following year.
Ongoing discussions regarding the IPO are reported to include the consideration of additional banking partners, according to Bloomberg. As of now, representatives from both Bullish and Block.one have not provided comments to Bloomberg, and Jefferies has declined to make any statements. A request for comment sent to Bullish by CoinDesk has also gone unanswered prior to publication.
