Bullish Global IPO Consideration

Bullish Global, a subsidiary of Block.one and backed by investor Peter Thiel, is contemplating an initial public offering (IPO), as reported by Bloomberg. Sources indicate that the IPO could occur as early as this year.

Company Overview

Bullish Global provides financial services within the digital assets sector and operates a cryptocurrency trading platform. The company acquired crypto media outlet CoinDesk from Digital Currency Group in November 2023.

Market Context

The report comes after Donald Trump, supported by Thiel in the previous election, became president. Trump’s support for crypto and the digital assets industry has contributed to a bullish market cycle.

Both Bullish Global and Block.one have not responded to requests for comment.

Previous Funding

In 2021, Block.one introduced Bullish Global, announcing nearly $10 billion in funding. Block.one is also known for developing the EOSIO blockchain.

Bullish had intentions to go public in 2021, but did not proceed at that time. The company is currently collaborating with Jefferies Financial Group in preparation for a potential IPO.

Investor Insights

Thiel’s venture capital firm, Founders Fund, has invested in the decentralized prediction market platform, Polymarket. Other notable investors in Block.one include Alan Howard, Mike Novogratz, and the Japanese banking giant, Nomura.