Crypto Exchange Bullish: IPO or Just Another Fiasco? 🤔💸

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What to know:

  • So, they filed for an IPO after a SPAC flop in 2021. Classic move, right?
  • Bitcoin is now over $110,000. I mean, who knew? 🙄

Crypto exchange Bullish has decided to play the IPO game again, according to the Financial Times. Apparently, they think this time will be different. Spoiler alert: it probably won’t. 😏

They’re trying to ride the wave of excitement for digital assets, thanks to some friendly signals from the Trump administration. Because nothing says “trustworthy” like a Trump endorsement, right? 😂

Oh, and let’s not forget Circle’s IPO last week, where shares skyrocketed 168%. Talk about a rollercoaster! 🎢

The FT is a bit fuzzy on the details, mixing up Bullish Exchange and its parent company, Bullish Group. You know, the one backed by Peter Thiel, who’s basically the poster child for “I can’t believe it’s not butter.”

With this confidential filing to the SEC, they can keep their financial secrets safe for now. Jefferies is the lead underwriter, which sounds fancy, but let’s be real, it’s just a bunch of suits trying to make a buck.

Remember their last attempt at going public? Yeah, that SPAC deal went belly up faster than you can say “market volatility.” Bullish Exchange is regulated in Gibraltar, which is great, but does it really matter? 🤷‍♂️

Now, with Bitcoin trading at a whopping $110,000, they think they can catch the crypto wave again. Good luck with that! The group is led by CEO Tom Farley, who used to run the NYSE. So, he’s got experience, but does he have luck? Only time will tell.

Jefferies didn’t want to comment, and Bullish? They’re ghosting everyone. Classic! 👻

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2025-06-11 12:42