Bullish Crypto Firm Aims for $629M Mega-Raise in NY Share Sale—Wall Street Bites?

Crypto goes full Wall Street—again. Bullish, the digital asset firm backed by heavyweights like Peter Thiel and Mike Novogratz, is gunning for a $629 million share sale in New York. Because nothing says 'decentralization' like a nine-figure IPO.

Why now? The timing reeks of opportunism. Bitcoin’s back above $50K, institutional FOMO is creeping in, and everyone’s suddenly a 'long-term holder.' Bullish smells blood in the water—or at least dumb money.

The playbook? Same as ever: Dress up crypto in a suit, slap a 'regulated' label on it, and watch traditional finance guys nod sagely. Never mind that the last crypto IPO (remember Coinbase?) became a cautionary tale about volatility meeting quarterly earnings calls.

One thing’s certain: If this lands, it’ll be a litmus test for crypto’s 'maturity'—or just proof that even blockchain maximalists eventually kneel before the altar of SEC filings. Bonus irony? The raise is bigger than El Salvador’s Bitcoin treasury. Priorities.