Peter Thiel-Backed Bullish Exchange Files Confidentially for IPO Amid Favorable Crypto Climate

Bullish, the cryptocurrency exchange backed by billionaire investor Peter Thiel, has submitted a confidential filing for an initial public offering with the U.S. Securities and Exchange Commission. The move comes as institutional interest in digital assets grows and regulatory attitudes in the U.S. show signs of warming.

This marks Bullish''s second attempt to enter public markets after a failed 2021 SPAC merger. Under CEO Tom Farley, former president of NYSE Group, the exchange is trying again with Jefferies handling underwriting. The timing appears strategic, coinciding with renewed investor confidence and political support for crypto.

Launched in 2021 with $300 million from Thiel''s Founders Fund and other investors, Bullish has positioned itself as an institutional-focused platform. This differentiation may prove advantageous as the crypto market matures beyond its retail-driven origins.