A crypto exchange backed by billionaire Peter Thiel and some of the biggest players in crypto is preparing to make their Wall Street debut.
What’s happening:
- Crypto exchange Bullish has officially filed a Form S-1 with the United States Securities and Exchange Commission to pursue an IPO onto a major American stock exchange
Why it matters:
- Bullish is one of the fastest growing crypto exchanges in the world and is backed by Peter Thiel’s Founders Fund, Block.one and Galaxy Digital (NASDAQ: GLXY) founder Mike Novogratz
Going deeper:
- Bullish is led by Tom Farley, who was formerly the president of the NYSE Group
- Digital asset exchange Gemini also just recently made waves on Wall Street when they confidentially filed for an IPO with the United States Securities and Exchange Commission
The intrigue:
- Bullish previously entered into a business combination agreement with a SPAC to go public on the New York Stock Exchange four years ago, but ultimately abandoned the deal
The fine print:
- Both the pricing and valuation of Bullish’s IPO is currently unknown
