{"id":31445,"date":"2025-06-12T01:46:49","date_gmt":"2025-06-12T01:46:49","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=31445"},"modified":"2025-06-12T01:46:49","modified_gmt":"2025-06-12T01:46:49","slug":"peter-thiels-crypto-exchange-bullish-files-for-u-s-ipo","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=31445","title":{"rendered":"Peter Thiel\u2019s Crypto Exchange Bullish Files for U.S. IPO"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">Bullish, the Peter Thiel-backed crypto exchange, has confidentially filed for an initial public offering in the United States. The move signals that the company is ready to take another swing at going public after its first attempt, via SPAC, fizzled out during the crypto market\u2019s downturn in 2021. The Bullish IPO is a calculated second attempt to go public, this time under better market conditions and with less noise.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The filing allows Bullish to test the waters with regulators and investors behind the scenes before putting all its cards on the table.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Why It Matters Now<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The timing is no accident. Bitcoin is back above $110,000, crypto stocks are heating up, and U.S. political winds are turning in crypto\u2019s favor. <\/span><span data-preserver-spaces=\"true\">Earlier this month, Circle <\/span><span data-preserver-spaces=\"true\">pulled off a successful<\/span><span data-preserver-spaces=\"true\"> IPO, raising over $1 billion.<\/span><span data-preserver-spaces=\"true\"> Gemini has also filed confidentially.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/1f1fa-1f1f8.png\" alt=\"\ud83c\uddfa\ud83c\uddf8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Peter Theil-backed crypto group, Bullish, files for Wall Street IPO. <a href=\"https:\/\/t.co\/U9RSMkXecV\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/U9RSMkXecV<\/a><\/p>\n<p>\u2014 Whale Insider (@WhaleInsider) <a href=\"https:\/\/twitter.com\/WhaleInsider\/status\/1932635316302852134?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">June 11, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">For Bullish, the window looks open again. Instead of waiting to see if the rally sticks, it\u2019s moving while investor appetite is still high.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">What Makes Bullish Different<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Bullish launched in 2021 with $300 million in backing from Peter Thiel\u2019s Founders Fund, Galaxy Digital, and others. <\/span><span data-preserver-spaces=\"true\">It pitched itself as a high-performance crypto exchange tailored to institutions, <\/span><span data-preserver-spaces=\"true\">think<\/span><span data-preserver-spaces=\"true\"> hedge funds, <\/span><span data-preserver-spaces=\"true\">not<\/span><span data-preserver-spaces=\"true\"> hobbyists.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Unlike more casual trading apps, Bullish is focused on serious infrastructure: strong liquidity, tight trading spreads, and tools designed for professional volume. It\u2019s based in Gibraltar but wants a presence <\/span><span data-preserver-spaces=\"true\">on<\/span><span data-preserver-spaces=\"true\"> U.S. public markets. <\/span><span data-preserver-spaces=\"true\">That\u2019s a <\/span><span data-preserver-spaces=\"true\">big<\/span><span data-preserver-spaces=\"true\"> leap from its original SPAC plans, which were shelved when crypto collapsed in 2022.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Tom Farley, the former president of the New York Stock Exchange, now leads the company. <\/span><span data-preserver-spaces=\"true\">Jefferies is acting as the lead underwriter, <\/span><span data-preserver-spaces=\"true\">though<\/span><span data-preserver-spaces=\"true\"> Bullish hasn\u2019t <\/span><span data-preserver-spaces=\"true\">said<\/span><span data-preserver-spaces=\"true\"> when it plans to list or what valuation it\u2019s <\/span><span data-preserver-spaces=\"true\">chasing<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025<\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">What\u2019s Changed Since 2021<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Back then, Bullish tried to go public with a $9 billion valuation via a merger with Far Peak Acquisition Corp. That deal fell apart when the market tanked. Now the landscape looks very different.<\/span><\/p>\n<div class=\"cpp-crypto-chart cpp-crypto-chart-99btc cpp-crypto-chart-btc\" data-coin-symbol=\"btc\" data-price-usd=\"BTC Price (USD)\" data-main-color=\"#4caf05\" data-watermark-image=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/99bitcoins-logo.png\" data-chart-style=\"99btc\">\n<div class=\"cpp-chart-top-section\">\n<div class=\"cpp-chart-info-section\">\n<div class=\"cpp-chart-logo\"><img decoding=\"async\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2024\/02\/26205235\/btc.svg\" alt=\"btc logo\"><\/div>\n<div class=\"cpp-chart-coin-details\">\n<div class=\"cpp-chart-labels-row\">\n<div class=\"cpp-chart-coin-name\">Bitcoin<\/div>\n<div class=\"cpp-chart-price-info\">Price<\/div>\n<div class=\"cpp-chart-market-cap\">Market Cap<\/div>\n<\/div>\n<div class=\"cpp-chart-values-row\">\n<div class=\"cpp-chart-coin-symbol\">BTC<\/div>\n<div class=\"cpp-chart-price\"><\/div>\n<div class=\"cpp-chart-market-cap-value\">$2.16T<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"cpp-chart-selectors cpp-chart-selectors-99btc\"><span class=\"cpp-chart-selector\" data-period=\"24h\">24h<\/span><span class=\"cpp-chart-selector\" data-period=\"7d\">7d<\/span><span class=\"cpp-chart-selector\" data-period=\"30d\">30d<\/span><span class=\"cpp-chart-selector\" data-period=\"1y\">1y<\/span><span class=\"cpp-chart-selector\" data-period=\"all_time\">All time<\/span><\/div>\n<\/div>\n<p><canvas id=\"cpp-chart-684a30ceb7c85\" class=\"cpp-chart-container cpp-chart-container-99btc\"><\/canvas><\/div>\n<p><span data-preserver-spaces=\"true\">Crypto has bounced back, at least partially. Institutional interest is on the rise. <\/span><span data-preserver-spaces=\"true\">U.S. regulators, <\/span><span data-preserver-spaces=\"true\">while still murky in<\/span><span data-preserver-spaces=\"true\"> their approach, <\/span><span data-preserver-spaces=\"true\">seem<\/span><span data-preserver-spaces=\"true\"> more open to <\/span><span data-preserver-spaces=\"true\">letting<\/span><span data-preserver-spaces=\"true\"> certain companies through the IPO gates.<\/span><span data-preserver-spaces=\"true\"> And companies like Circle and Bullish are taking full advantage of the moment.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Part of a Bigger Wave<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Bullish isn\u2019t alone. It joins a fresh lineup of crypto-native firms eyeing public listings. Circle\u2019s success set a precedent. Gemini is quietly preparing for its turn. Even Robinhood and Coinbase are benefiting from the broader mood swing.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">For investors, this means more regulated ways to gain exposure to the crypto sector without directly holding tokens.<\/span><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Best New Cryptocurrencies to Invest in 2025<\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">What Comes Next<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Bullish will need to <\/span><span data-preserver-spaces=\"true\">survive<\/span><span data-preserver-spaces=\"true\"> SEC scrutiny, market itself to investors, and eventually publish its <\/span><span data-preserver-spaces=\"true\">numbers<\/span><span data-preserver-spaces=\"true\">.<\/span><span data-preserver-spaces=\"true\"> That\u2019s when we\u2019ll find out how strong the business really is \u2014 whether it has the revenue, user growth, and market volume to stand out.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">If the IPO <\/span><span data-preserver-spaces=\"true\">goes through<\/span><span data-preserver-spaces=\"true\"> and performs well, it could give the industry another <\/span><span data-preserver-spaces=\"true\">shot<\/span><span data-preserver-spaces=\"true\"> of confidence.<\/span> <span data-preserver-spaces=\"true\">If not, it will reinforce how <\/span><span data-preserver-spaces=\"true\">hard<\/span><span data-preserver-spaces=\"true\"> it still is to bridge crypto and Wall Street.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Bottom Line<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Bullish is making a second run at the public markets, but this time it\u2019s doing it quietly, strategically, and with a market backdrop that finally looks promising again. Whether this gamble pays off will depend on more than hype; it\u2019ll come down to performance, timing, and whether investors believe crypto\u2019s institutional future starts here. With a stronger pitch to institutions and a seasoned Wall Street CEO at the helm, the Bullish IPO could land differently this time.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">DISCOVER:\u00a0<\/span><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\"><span data-preserver-spaces=\"true\">20+ Next Crypto to Explode in 2025\u00a0<\/span><\/a><\/strong><\/p>\n<p><strong><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"nofollow noopener nofollow\"><span data-preserver-spaces=\"true\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/span><\/a><\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<p><span data-preserver-spaces=\"true\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span data-preserver-spaces=\"true\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Bullish, backed by Peter Thiel, has confidentially filed for a U.S. IPO after its 2021 SPAC attempt fell through.    <\/li>\n<p>    <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        The exchange focuses on institutional-grade infrastructure, offering deep liquidity and trading tools for professional investors.    <\/li>\n<p>    <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Market conditions have improved since 2021, with Bitcoin above $110,000 and other crypto firms like Circle and Gemini making IPO moves.    <\/li>\n<p>    <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Tom Farley, former NYSE president, now leads Bullish, which aims to enter U.S. public markets with Jefferies as its lead underwriter.    <\/li>\n<p>    <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        If successful, the Bullish IPO could reinforce growing confidence in crypto\u2019s place within traditional finance.    <\/li>\n<p>    <\/span><\/p>\n<p><span data-preserver-spaces=\"true\"><br \/>\n    <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/adoption\/peter-thiels-crypto-exchange-bullish-files-for-u-s-ipo\/\">Peter Thiel\u2019s Crypto Exchange Bullish Files for U.S. IPO<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bullish, the Peter Thiel-backed crypto exchange, has confidentially filed for an initial public offering in the United States. The move signals that the company is ready to take another swing at going public after its first attempt, via SPAC, fizzled out during the crypto market\u2019s downturn in 2021. The Bullish IPO is a calculated second [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-31445","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/31445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31445"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/31445\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}