Share this article
Bullish Global Weighs IPO as Early as This Year Amid Crypto Market Optimism: Bloomberg
The crypto exchange whose parent company is backed by Peter Thiel revived its public listing plans shelved in 2022.
Updated Feb 5, 2025, 4:56 p.m. Published Feb 5, 2025, 9:59 a.m.
What to know:
- Bullish Global is considering an IPO as early as this year, Bloomberg reported.
- The crypto exchange called off a SPAC listing in 2022.
Crypto exchange Bullish Global is considering selling shares to the public for the first time at some point during 2025, Bloomberg reported, citing people familiar with the matter.
The company, which owns CoinDesk, is working with Jefferies Financial Group on the potential listing, Bloomberg said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Talks of an initial public offering (IPO) comes as the prices of bitcoin (BTC) and other cryptocurrencies have shot up since Donald Trump won the U.S. election in November. The total crypto market has climbed to to $3.15 trillion from $2.2 trillion. On Tuesday, U.S. crypto czar David Sacks spoke about a golden age for digital assets.
Led by CEO Tom Farley, Bullish has more than 275 employees worldwide including Hong Kong, the U.S. and Europe. It is is a subsidiary of Block.one, a blockchain software company headed by Brendan Blumer whose backers include Peter Thiel and Richard Li.
Blumer, who also serves as Bullish's chairman, launched the company in 2021. Bullish has around $10 billion in digital assets and cash, according to the report. It had planned to go public via a special purpose acquisition company (SPAC) in 2021. The plan was canceled the following year.
Discussions around the IPO are ongoing, including additional banking partners, Bloomberg said.
Representatives from Bullish and Block.one didn't respond to Bloomberg, and Jefferies declined to comment. A CoinDesk email to Bullish seeking comment was not answered before publication.
CORRECT (Feb. 5, 16:56 UTC): Removes Alan Howard as a backer of Block.one in fourth paragraph.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
DOT Sinks 2% After Breaking Key Support
The Polkadot token erased earlier gains amid elevated volume, falling from a high of $2.09 to $1.97.
What to know:
- DOT collapsed through ascending trendline support around the $2.05 level on a massive 284% volume surge.
- The token broke decisively below the support level to trade 2% lower over the last 24 hours.
Top Stories
