Crypto boom: Peter Thiel supports Bullish in its new IPO attempt!

Crypto boom: Peter Thiel supports Bullish in its new IPO attempt!

Peter Thiel, the well-known co-founder of PayPal and a prominent investor in the tech sector, is at the center of a new trend in the cryptocurrency market. Thiel, also known for his investments in Facebook and founding Palantir, is backing crypto exchange Bullish as it plans to go public. The company has already filed documents with the US Securities and Exchange Commission to take the next step.

Crypto exchange Bullish originally sought an IPO via a SPAC deal in 2021, but failed due to an unfavorable market environment. Now is apparently a good time for a new IPO attempt as the political climate is more favorable for cryptocurrencies under the administration of US President Donald Trump. Trump has taken a pro-crypto stance and rolled back strict Biden-era regulations, promising industry-friendly policies.

Support and investments

Bullish was founded in 2021 as a subsidiary of the crypto software company Black.one, which is also promoted by Peter Thiel. Thiel invested, among other things, through his venture capital firms Thiel Capital and Founders Fund. Other prominent investors supporting Bullish include Nomura, Alan Howard and Louis Bacon. The support of Isaac Thiel could give Bullish the necessary support in the market.

Bullish is currently joining a new wave of crypto IPOs as the markets recover and a rising Bitcoin price of over $100,000 creates positive sentiment. Bullish CEO Tom Farley, former president of the New York Stock Exchange (NYSE), has announced that the platform will offer innovative services in the crypto space.

Market development and competition

The market is showing signs of new growth, partly due to the recent successes of crypto companies. Stablecoin operator Circle Internet recently raised $1.1 billion, which was twice as much as originally expected. Circle's shares rose an impressive 168 percent on the first day of trading. The crypto exchange Gemini, founded by the Winklevoss twins, has also filed for a confidential listing, showing that investor interest in crypto investments is increasing.

With Thiel's influence and support from the political sector, Bullish could become a major player in the crypto exchange business in the coming months. Developments over the next few weeks and months will show whether Bullish can achieve its goals and to what extent the changed regulatory landscape will have a positive impact on the crypto market. Further information on the topic is provided Yahoo Finance and Focus.de.