Why Bullish Inc. Just Made $1.15 Billion in Stablecoins-And You Didn’t!

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In a world where fortunes are spun from the gossamer threads of digital dreams, Bullish Inc. (NYSE: BLSH) has just pulled a rabbit out of a blockchain hat, announcing with all the fanfare of a circus ringmaster that it has amassed a staggering $1.15 billion from its initial public offering (IPO)-all in stablecoins, no less! 🎩✨

Ah, the sweet scent of success wafts through the air, as this Cathie Wood-endorsed enterprise takes a giant leap into the annals of financial history, marking a momentous occasion for the blockchain currency aficionados in the U.S. capital markets. Who knew that digital coins could be so… stable? 😂

Most of these shiny stablecoins were minted on the Solana (SOL) blockchain, with Jefferies playing the role of the diligent billing agent, orchestrating the minting, conversion, and distribution of these digital treasures. It’s like a high-stakes game of Monopoly, but with real money and fewer mustachioed villains. 🕵️‍♂️

Among the cornucopia of US dollar and euro-denominated stablecoins, we find the likes of USD CoinVertible and EUR CoinVertible, courtesy of Societe Generale-FORGE, alongside Global Dollar and PayPal USD from Paxos. Ripple USD on the XRP Ledger, USD1 from World Liberty Financial, Agora Dollar from Agora, and EURAU from AllUnity also joined the party-because who doesn’t love a good potluck? 🍽️

Most of the bounty was settled in USDC, with a sprinkle of EURC for good measure. And where are these digital gems being kept safe, you ask? In the hallowed vaults of Coinbase, of course! 🏦

As Bullish CFO David Bonanno quips,

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2025-08-20 02:01