Bullish Global, a leading crypto exchange backed by prominent investors, is reportedly considering its initial public offering (IPO) as early as this year.
Bullish Global is positioning itself for a potential IPO as interest in the crypto market resurges in the U.S. The firm, supported by influential figures, is currently in discussions to go public by 2025, according to insider sources.
In preparation for this listing, Bullish Global is collaborating with financial experts to navigate the complexities of the IPO process. Ongoing negotiations may affect the timeline and details of the offering.
Under the leadership of CEO Tom Farley, Bullish Global employs over 275 staff members and operates across multiple regions, including the U.S., Hong Kong, Singapore, Gibraltar, and the Cayman Islands. In a strategic move in 2023, the firm also expanded its portfolio by acquiring a notable crypto media outlet, although specifics of the deal remain undisclosed.
Originally launched in 2021 with significant backing, Bullish Global has attracted considerable investment totaling $10 billion, which comprises both cash and crypto assets. Initial funding included $100 million, along with 164,000 BTC and 20 million EOS, with an additional $300 million raised during subsequent investment rounds.
Despite earlier plans for a $9 billion SPAC deal, the firm opted to reassess its approach in the face of extended timelines. Previous leadership expressed the need to adapt their strategy amid a rapidly changing market environment.
