Peter Thiel’s Crypto Bet: Bullish Weighs IPO Amid Institutional Expansion

To make this move, Bullish has partnered with Jefferies Financial Group, a leading investment bank and asset management firm. The exchange aims to secure fresh capital, capitalizing on what it sees as a favorable economic climate under President Donald Trump’s administration.

Bullish first considered an IPO in 2021 through a strategic acquisition but later postponed the plan. Bloomberg sources indicate that discussions are still ongoing, with major banks potentially joining as investors. This underscores the growing institutional interest in crypto, further bridging the gap between traditional finance and digital assets.

The crypto exchange is owned by Block.one, a company backed by prominent investors Peter Thiel and Louis Bacon. Initial funding for Bullish Global surpassed $10 billion, and the platform now operates regional offices in the U.S., Hong Kong, Singapore, and other countries. In a strategic expansion move, the company also recently acquired the crypto media outlet CoinDesk.

Block.one is best known for conducting the largest initial coin offering (ICO) in history, raising $4.2 billion to launch the EOS blockchain platform. However, the record-breaking fundraising later led to legal troubles with the U.S. Securities and Exchange Commission (SEC) over alleged securities law violations. To settle the case, Block.one paid a $24 million fine, and control of EOS was handed over to a decentralized governance model.

Related: EOS Cryptocurrency Reviewed