Peter Thiel-backed Bullish Global considers IPO: report

Bullish Global, which is a subsidiary of Block.one and counts billionaire Peter Thiel as an investor, is considering an initial public offering Bloomberg reported Tuesday, citing anonymous sources. The company could launch its IPO as soon as this year, the sources said.

Bullish Global develops financial services for the digital assets sector and operates a cryptocurrency trading platform, according to its website. The company acquired crypto media outlet CoinDesk from Digital Currency Group in November 2023.

The report emerges on the heels of Donald Trump , who Thiel supported during last year's election, taking office as president of the United States. Trump's embrace of crypto and moves to support the digital assets industry has helped spur a bullish cycle.

Both Bullish Global and Block.one did not immediately respond to requests for comment.

Back in 2021, Block.one unveiled Bullish Global and said it had raised nearly $10 billion in funding. Block.one is the developer of the EOSIO blockchain.

Bullish also planned to go public in 2021, but didn't follow through. The company is working with Jefferies Financial Group on potentially launching an IPO, Bloomberg reported.

Thiel's venture capital firm Founders Fund has invested in the decentralized prediction market platform Polymarket. Other investors in Block.one includes Alan Howard, Mike Novogratz, and the Japanese banking giant Nomura.