Bullish, a cryptocurrency exchange owned by Bullish Global, has filed for an initial public (IPO) offering in the United States. Cayman Islands -based firm plans to list ordinary shares with its New York Stock Exchange (NYSE) under the ticker symbol “Blsh.”
The exact number of shares offered and the price range remain unspecified, According to In a F-1 registration statement filed with the US Securities and Exchange Commission (SEC). However, the underwriters were given a 30-day option to buy additional shares.
For fiscal year 2024, Bullish reported a net income of approximately $ 80 million. However, despite this positive yearly result, the company has experienced a significant collapse in the first quarter of 2025, reporting a net loss of $ 349 million compared to a $ 104.8 million net profit in the same quarter of 2024.
Moreover, the exchange claims more than $ 1.9 billion in liquid owners, including Cash, Bitcoin (Btc), Stablecoins and other digital assets.
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Bullish subsidiaries cover six constituents
Bullish operates through subsidiaries in many constituents, including Hong Kong, the Cayman Islands, Singapore, United Kingdom, Germany, and Gibraltar.
Its Hong Kong subsidiaries play an important role in exchange operations, providing engineering, cybersecurity, caution, and technology services, per filing. Bullish HK market limited holds regulatory licenses in Hong Kong to facilitate digital asset trading.
Last month, The Financial Times reported that Bullish filed a confidential paperwork with the SEC for a US IPO. The report said the American Investment Bank Jefferies were selected as the lead underwriter for the offer.
The Exchange, who had previously attempted to go public through a special purpose of obtaining the company (Spac) dealing with 2021, saw earlier efforts to collapse as markets have been -soured amid increased interest rates.
Bullish’s move is amid recent successes in the Crypto IPO space. Circle, gives USDC (USDC) Stablecoin, Raised $ 1.1 billion In its public debut last month, the excessive expectations and marking of a Record-setting 167% get on the first day of trading.
On June 6, Gemini, the exchange founded by Cameron and Tyler Winklevoss, also Confidence filed for a US list. Both brothers supported Trump’s reelection bidding and backed up crypto-focused political action committees.
Related: OKX Crypto Exchange Considered us IPO after local Relaunch: Report
Win for Crypto as Trump Signs Genius Act
President Donald Trump signed The Genius Act On Friday, marked the first US primary law to regulate cryptocurrency, especially the $ 250 billion Stablecoin market. The bill is Passed home with Bipartisan support From 206 Republicans and 102 Democrats.
The signing ceremony included members of Congress and leaders from major crypto companies such as Robinhood, Tether, and Gemini. The development of the bill was briefly blocked by a dozen conservative Republicans but is that -Clear after negotiations.
Magazine: Anger as $ 1.8B ‘DGCX’ Crypto Scam Ringleader is joking with victims: Asia Express
