Coinbase Rival Bullish (BLSH) Soars in NYSE Debut, Marking Institutional Crypto Adoption Milestone

Bullish (BLSH), the institutional-focused cryptocurrency exchange, made a remarkable debut on the New York Stock Exchange (NYSE) on August 14, 2025, with its shares more than doubling from its initial public offering (IPO) price. The exchange opened at $102 per share, a significant surge from its IPO pricing of $37, reflecting strong investor confidence. This impressive performance valued the Cayman Islands-based platform at $5.4 billion, underscoring its growing influence in the crypto market. Since its launch in 2021, Bullish has achieved a cumulative trading volume exceeding $1.25 trillion, demonstrating robust institutional demand for its services. The exchange expanded its IPO offering to 20.3 million shares due to overwhelming interest, further highlighting the market's appetite for regulated crypto investment vehicles. This milestone not only solidifies Bullish's position as a key player but also signals broader institutional acceptance of digital assets, potentially paving the way for further mainstream crypto adoption. The successful NYSE listing serves as a bullish indicator for the entire cryptocurrency sector, particularly for established platforms like Coinbase that may benefit from increased institutional participation.

Bullish Crypto Exchange Shares Surge in NYSE Debut, Signaling Institutional Confidence

Bullish (BLSH), the institutional-focused cryptocurrency exchange, saw its shares more than double in its New York Stock Exchange debut, opening at $102 after pricing its IPO at $37 per share. The strong debut valued the Cayman Islands-based platform at $5.4 billion, with trading volume surpassing $1.25 trillion since its 2021 launch.

The exchange expanded its IPO offering to 20.3 million shares due to overwhelming demand, including $200 million in interest from institutional heavyweights BlackRock and Ark Investment Management. "The institutional wave has begun—it's here, and the only question is how big it will be," CEO Tom Farley told CNBC, contrasting Bullish's institutional focus with retail-centric platforms like Coinbase.

Coinbase and Squads Protocol Drive USDC Adoption on Solana

Coinbase and Squads Protocol have forged a strategic partnership to accelerate USDC usage on Solana. The collaboration designates USDC as the default stablecoin across Squads' product suite, targeting faster, cheaper, and more secure transactions within the solana ecosystem.

The initiative builds on Squads' existing $1 billion in locked USDC, representing nearly 15% of Solana's total USDC supply. Squads' programmable self-custody infrastructure, including its flagship Multisig product, already secures over $10 billion in assets and has facilitated $5 billion in stablecoin transfers.

"Our partnership with Squads reinforces USDC's position as the leading stablecoin in DeFi," said Coinbase Chief Business Officer Shan Aggarwal. The integration extends to Altitude, Squads' USD business account for savings and transfers, further deepening liquidity and utility.

Useless Coin Sparks Intrigue as Price Soars 40% Post-Announcement

Cryptocurrency markets are witnessing a resurgence of meme coin mania as Useless Coin (USELESS) surges 40% following a Coinbase listing roadmap inclusion. The Solana-based token, designed as a satirical critique of crypto culture, has defied its nominal purpose by attracting significant trading volume and exchange interest.

Market dynamics reveal a stark contrast between bear and bull conditions. Where listings once failed to move prices during downturns, Ethereum's proximity to all-time highs has amplified the impact of exchange announcements. Useless Coin's daily volume spiked 160% since its May 2025 launch, with backing from Solana influencers Bonkguy and Solporttom adding credibility to the ostensibly frivolous project.

EDXM International and Coinbase Expand Crypto Derivatives with Regulated Perpetual Futures

EDXM International has launched a regulated perpetual futures exchange in Singapore, while Coinbase Financial Markets introduced CFTC-regulated perpetual futures to U.S. customers—both in July 2025. The new platform supports 44 trading pairs, including BTC, ETH, SOL, and XRP, catering exclusively to institutional traders.

Unlike traditional futures, perpetual contracts lack expiration dates, relying instead on a funding rate mechanism to maintain price alignment with spot markets. Tony Acuña-Rohter, CEO of EDX Markets, emphasized the exchange's institutional focus: "We've designed an unconflicted model that avoids vertical integration risks seen in cases like FTX." EDXM International holds collateral separately to ensure bankruptcy remoteness.

The MOVE follows EDXM's June 2023 debut of a U.S.-based institutional crypto spot marketplace, which Acuña-Rohter describes as a precursor to their perpetuals expansion. Coinbase's simultaneous entry signals growing mainstream acceptance of crypto derivatives under regulatory frameworks.