Bullish, the crypto exchange founded by Block.one and backed by Peter Thiel, has confidentially filed for a U.S. IPO with the SEC—likely aiming to ride the current wave of bullish sentiment in digital assets, especially amid expectations of looser crypto regulation under a Trump admin.
CoinDesk, the prominent U.S. crypto news platform, has been acquired by Bullish, a crypto exchange led by former New York Stock Exchange president Tom Farley. This acquisition comes as CoinDesk's parent company, Digital Currency Group (DCG), grapples with financial challenges arising from the collapse of FTX. CoinDesk carried out a mass termination in the summer and sought new owners willing to inject fresh funds.
The crypto bull-run happened amidst the COVID-19 pandemic. Bitcoin (BTC) finished 2020 just shy of $30,000 with a market cap of around $530 billion. A year ago, the price had been $7,100. 2020 was the year of institutional investors and PayPal's entry. With the crypto explosion, the digital Assets Under Management (AUM) of Barry Silbert's pioneering Grayscale Investments crypto trusts have surpassed the $20 billion mark. That's quite something, isn't it?