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Investing.com-- Cryptocurrency exchange Bullish has confidentially filed for a U.S. initial public offering, seeking to capitalize on renewed investor appetite for digital assets under the Trump administration, the Financial Times reported on Tuesday, citing sources familiar with the matter.
The Peter Thiel-backed platform submitted paperwork to the U.S. Securities and Exchange Commission in recent weeks, with Jefferies named as the lead underwriter, the FT report said.
The IPO effort follows a previously failed SPAC merger in 2021, which collapsed amid market volatility and rising interest rates.
Bullish’s move comes as the crypto sector enjoys a revival in public markets, boosted by policy signals from former President Donald Trump’s campaign and recent blockbuster IPOs, including stablecoin firm Circle Internet (NYSE:CRCL).
The exchange is led by former NYSE Group President Tom Farley and touts deep liquidity and narrow spreads on its blockchain-based trading platform.