Peter Thiel-backed Bullish Targets $629M IPO Amid Crypto Market Revival
Bullish, a cryptocurrency exchange backed by billionaire investor Peter Thiel, filed with the SEC to raise up to $629 million in an initial public offering. The company plans to offer 20.3 million shares priced between $28 and $31, potentially valuing the firm at $4.2 billion.
The MOVE comes as digital asset markets regain momentum, following Circle Internet Group's successful public debut. Bullish CEO Tom Farley cited strategic advantages including enhanced credibility, capital access, and acquisition flexibility as key drivers for the IPO.
Underwritten by major financial institutions, the offering signals growing institutional confidence in crypto infrastructure plays during what industry observers believe could be the early stages of a new bull cycle.
