Cryptocurrency firm Bullish confidentially files for US IPO, FT reports

(Reuters) -Peter Thiel-backed crypto exchange Bullish has confidentially filed for an IPO with the U.S. Securities and Exchange Commission in recent weeks, the Financial Times reported on Tuesday.

A unit of blockchain software company Block.one, Bullish had attempted to go public through a special purpose acquisition company deal in 2021 but that fell through in 2022 amid a regulatory crackdown and a sudden rise in interest rates that rattled the equities market.

The Trump administration, in contrast to predecessor Joe Biden's, has taken a softer stance on crypto regulation and backed the industry’s policy priorities, with the SEC dropping several investigations.

Bullish is seeking to capitalise on renewed investor interest in digital assets under the current administration, the FT said.

Bullish did not immediately respond to a Reuters request for comment. Reuters could not immediately verify the FT report.

The company's reported filing follows that of Gemini's, a crypto exchange run by billionaire twins Tyler and Cameron Winklevoss, which last week disclosed it had confidentially filed for a U.S. initial public offering.

(Reporting by Devika Nair in Bengaluru; Editing by Nivedita Bhattacharjee)

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