Bullish Global, a crypto trading platform that is backed by billionaire Peter Thiel, has secretly applied for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). This move comes as more people want to invest in cryptocurrencies, especially with new policies under the leadership of President Donald Trump.
Bullish once tried to go public in 2021 but stopped due to market ups and downs. The company is led by Tom Farley, who used to run part of the New York Stock Exchange.
Bullish’s platform makes trading cryptos easy and manages about $10 billion in assets. It’s backed by big names like Thiel and Richard Li. Jefferies, a bank, is helping with the process to make Bullish a publicly traded company.
Since Donald Trump became president, cryptocurrencies like Bitcoin have soared, with Bitcoin’s price going over $100,000 and the total crypto market reaching $3.15 trillion.
People are excited because Trump’s administration is eliminating the strict crypto rules from the Biden era, including tough SEC accounting requirements. This will make it easier for crypto businesses to operate.
As per the reports, recently, a crypto company called Circle Internet raised $1.1 billion in its public listing and saw its stock jump by 168% on the first day. This initiative by the firm has increased the confidence of people in the crypto industry.
Following this, other crypto firms are also planning to go public within a short period. Donald Trump, who once called Bitcoin a scam, is now supporting crypto. If the firm’s public listing succeeds, it will attract both institutional and retail investors.
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