Is Peter Thiel’s Bullish Crypto Exchange About to Shake Up Wall Street with Its Bold IPO Move?
Peter Thiel-backed crypto exchange Bullish has filed for a US initial public offering, according to an SEC Form F-1 submitted Friday. The filing confirms a June report by the Financial Times that Bullish had confidentially submitted IPO paperwork to the SEC.
Founded in 2021, Bullish reported $302 million in revenue and $150 million in net income for 2023, making it one of the few profitable crypto platforms pursuing a public listing.
The Block.one subsidiary holds $874 million in cash and $2.4 billion in customer assets. It also manages a treasury with $963 million in Bitcoin, $1 billion in EOS, and nearly $400 million in USD. The exchange operates under a regulatory license in Bermuda and plans to expand in the US.
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