Crypto Exchange Backed by Peter Thiel Confidentially Files for IPO With SEC: Report
The cryptocurrency exchange backed by tech billionaire Peter Thiel, Bullish, has reportedly filed for a US initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). According to sources familiar with the matter as reported by the Financial Times, Bullish has confidentially filed the necessary paperwork to offer its shares to the public in recent weeks.
Confidential filings allow companies to pursue their listing plans without immediately disclosing their financials in order to minimize public scrutiny. Bullish previously attempted to go public in 2021 through a special purpose acquisition vehicle, but the deal fell through the following year due to the impact of rising interest rates on stock markets.
The company is once again aiming to become a publicly-traded firm in response to strong investor demand for crypto assets, especially as the US adopts more industry-friendly policies under the Trump administration. Peter Thiel, who donated to the president’s first election campaign in 2015 and 2016, is a key figure in this venture.
Jefferies, a global investment banking firm, will serve as the lead underwriter on the deal for Bullish. This move comes on the heels of stablecoin issuer Circle’s successful IPO, where they raised $1.1 billion and saw their stock price surge by 168.48% on their first day of trading on the New York Stock Exchange (NYSE).
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As the crypto market continues to evolve and attract more attention from investors, the IPO of Bullish backed by Peter Thiel represents another significant milestone in the industry’s growth. Stay tuned for more updates on this exciting development.
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