Bullish files for $629M U.S. IPO amid policy tailwinds and CoinDesk deal

Peter Thiel-backed crypto exchange Bullish has filed for a U.S. initial public offering (IPO) to raise up to $629 million at a $4.23 billion valuation, with plans to convert part of the proceeds into USD stablecoins, according to Wu Blockchain on X, citing Reuters. The move follows favorable policy shifts such as the GENIUS Act and Bullish’s acquisition of CoinDesk.