Bullish Seeks to Raise Up to $629 Million in IPO
Bullish, the crypto exchange and new owner of the now often-paywalled publication CoinDesk, is looking to raise as much as $629 million in its US IPO. According to their F-1 filing with the SEC, the company plans to market 20.3 million shares for $28-$31 each. At the top of that range, Bullish would have a market value of ~$4.2 billion – a far more conservative number compared to its $9 billion valuation during their first attempt to go public via SPAC merger in 2021. The company plans to make its debut on NYSE under the symbol BLSH. Read more →
That Was Fast…
Tom Lee’s BitMine (BMNR) came out swinging in another press release yesterday, announcing that (1) legendary mutual fund manager Bill Miller III joined the ranks of ARK Invest and Founders Fund by purchasing a big stake in the company, and (2), that the company added 208K ETH to its treasury. This catapults BitMine as not only the largest ETH holder on record (833,137 ETH in total valued at $2.95 billion), but also the 3rd largest crypto treasury stock, with only MSTR & MARA holding more. Read more →
Barry Silbert Returns
Grayscale, gearing up for its long-awaited public debut, just bolstered its leadership team by appointing four executives to its roster and reinstating founder Barry Silbert as board chairman. Silbert, who launched GBTC in 2013 to provide early investors access to crypto via closed end funds long before there was MicroStrategy and spot ETFs, stepped down as chairman at the end of 2023 amid regulatory scrutiny of parent company Digital Currency Group. Read more →
Taking Stock of Crypto Exchanges Pursuing an IPO Link»
Hester Peirce’s must-read speech offering one of the clearest defenses of financial privacy in the context of crypto Link»
3 ETH Treasury stocks announce additional ETH purchases on the same day Link»
Galaxy (GLXY) Announces Second Quarter 2025 Financial Results Link»
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