(Bloomberg) – Bullish Global, an CryptoAsset exchange operator whose donors include billionaire Peter Thiel, is considering a first public offer this year, according to people familiar with the problem.
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The company works with Jefferies Financial Group Inc. and JPMorgan Chase & Co. on the potential list, said people, asking not to be identified because the information is confidential.
An IPO would see bullish joining an increasing number of companies in the sector going forward with plans to make public, in the midst of the expectations that President Donald Trump will pursue a Pro-Crypto program.
Directed by CEO Tom Farley, Bullish has more than 275 employees and has offices in the United States, Hong Kong, Singapore, Gibraltar and the Cayman Islands, according to his website. He bought Media Outlet Coindesk from Digital Currency Group in 2023 for an undisclosed amount.
Bullish is a subsidiary of the Blockchain Block.one Blockchain software company. Its co-founder and CEO Brendan Blumer, who is also president of Bullish, launched Haussier in 2021 and capitalized it with approximately $ 10 billion in digital assets and cash. His donors at the time included Thiel, Alan Howard, Louis Bacon and Richard Li, according to a press release. Howard then sold his stake, according to a person familiar with the issue.
In 2018, Block.one collected $ 4 billion by selling tokens in what is known in the world of cryptography as a first range of parts. The digital asset company failed to record ICO with the American Securities and Exchange Commission, which led to a fine of $ 24 million the following year. The sale of tortops keeps the record for the greatest increase in this type.
Bullish announced in 2021 that he planned to make public through a special acquisition vehicle, but he suspended this plan.
Deliberations are underway, the details of the offer could change and more banks could be added to the range, people said.
Representatives for Bulnish and Block.one did not respond to requests for comments. The spokesperson for Jefferies and JPMorgan refused to comment.
– With the help of Nishant Kumar, Katherine Doherty, Matthew Monks, Lizette Chapman and Olga Kharif.
(Updates with banks in the second paragraph and property in the fifth paragraph.)
