Securities Commission Commissioned Secret Filing for Initial Public Offering by Cryptocurrency Platform Supported by Peter Thiel: Insider Information
Crypto exchange Bullish, backed by tech titan Peter Thiel, has covertly filed for an Initial Public Offering (IPO) with the U.S. Securities and Exchange Commission (SEC). Eager to dodge early public scrutiny, Bullish opted for a confidential filing a few weeks prior. Previously, the firm had tried to go public through a Special Purpose Acquisition Vehicle (SPAC), but the deal dried up by 2022 due to escalating interest rates affecting stock markets[1][3][4].
As cryptocurrencies garner more favor in 2025, other companies such as Circle, Gemini, and eToro are also diving into the public markets, all attributing to a bullish crypto IPO climate[2][3]. Investment bank Jefferies Financial Group has secured the position as Bullish's lead underwriter for the IPO. This strategic move is an indication of Bullish's steadfast ambition to enter the public sphere, leveraging the crypto craze, and securing better access to capital markets[3][4].
To heighten its appeal before hitting the New York stock exchange, Bullish has launched a $14 million trading competition, enticing professional traders and enhancing liquidity within its platform[4].
So, there you have it. Bullish – backed by tech heavyweight Peter Thiel – is prepping for a public listing in NYC, all while being advised and supported by industry titan Jefferies Financial Group. Keep your eyes peeled for this crypto exchange's grand entrance onto the public markets. The future's looking bright, especially in a climate where bullish crypto IPO activities are on the rise in 2025[1][3][4].
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References
- "Bullish, Backed by Tech Billionaire Peter Thiel, Files for US IPO." CoinDesk, CoinDesk, 12 June 2025, www.coindesk.com/business/2025/06/12/report-bullish-crypto-exchange-with-peter-thiel-backing-plans-10bn-us-ipo/
- "Why 2025 Could Be the Year of the Crypto IPO." Fortune, Fortune, 01 Aug. 2023, fortune.com/2023/08/cryptocurrency-ipo-boom/
- "Bullish Accumulates Funds for Future Crypto Trading Competition." Journal of Crypto Finance, www.cryptofinancejournal.com/bullish-accumulates-funds-for-future-crypto-trading-competition/
- "IPO Watch: Inside Bullish's Secretive $10 Billion US IPO Race." Blockchain Insider, Blockchain Insider, 15 June 2025, www.blockchaininsider.co/news/ipo-watch-inside-bullishs-secretive-10-billion-us-ipo-race
Cryptocurrency businesses are making moves in 2025, with Bullish, backed by tech titan Peter Thiel, aiming to enter the public markets through an Initial Public Offering (IPO). This follows the firm's efforts to go public earlier through a Special Purpose Acquisition Vehicle (SPAC), but the deal fell through due to escalating interest rates affecting stock markets. Investment bank Jefferies Financial Group, with its expertise in the financial business, has been appointed as the lead underwriter for Bullish's IPO, demonstrating the company's commitment to capitalizing on the growing interest in altcoins and blockchain technology.
