Bullish

Last updated

Bullish
Company type Public
Industry Cryptocurrency
Founded2020;5 years ago (2020)
Founders Brendan Blumer
Headquarters George Town, Cayman Islands
Key people
 Thomas W. Farley, Chair & CEO
David W. Bonanno, CFO
Products Cryptocurrency exchange
RevenueDecrease2.svg US$80.256 billion (Q1 2025)
Decrease2.svg −US$343 million (Q1 2025)
Total assets Decrease2.svg US$2.664 billion (2025)
Total equity Decrease2.svg US$1.963 billion (2025)
Owner Brendan Blumer (35.5%)
Kokuei Yuan (31.4%)
Andrew C. Bliss (4.3%)
Thomas W. Farley (4%)
Number of employees
400 (2024)
Subsidiaries CoinDesk
Website bullish.com
Footnotes /references
[1]

Bullish is a cryptocurrency exchange and blockchain technology company headquartered in George Town, Cayman Islands. [1] The company provides infrastructure and services for the trading of digital assets through the Bullish Exchange platform, which is licensed in Germany, Hong Kong, Gibraltar, and New York State. As of March 2025, Bullish reported processing US$1.25 trillion in transactions, including US$284.8 billion in Bitcoin and US$144.5 billion in Ethereum trades during 2024. [1] Bullish also owns the media outlet CoinDesk and holds approximately 24,000 Bitcoins. [1]

Contents

History

Bullish was founded in 2020 by Brendan Blumer, who had previously launched Block.one. [2] Operations were launched in May 2021. [2] The company was initially seeded by Block.one with 164,000 Bitcoins valued at around US$9.7 billion, US$100 million in cash, and 20 million EOS.IO tokens. It also raised US$300 million from investors including Peter Thiel, Alan Howard, Louis Bacon, Christian Angermayer, and Richard Li. [3]

The company was incorporated in the Cayman Islands on June 22, 2021. [1]

In 2021, Bullish announced plans to become a public company through a US$9 billion merger with a special-purpose acquisition company (SPAC); however, the deal was canceled in December 2022 after the SPAC was unable to secure the necessary approvals. [2]

In November 2023, the company acquired CoinDesk for approximately US$75 million. [4]

In August 2025, Bullish became publicly listed through an initial public offering (IPO), raising US$1.1 billion. [5]

See also

References

  1. 1 2 3 4 5 "Bullish Form F-1". U.S. Securities and Exchange Commission. July 18, 2025.
  2. 1 2 3 Ossinger, Joanna (December 22, 2022). "Thiel-Backed Bullish Scraps Crypto SPAC Deal Set at $9 Billion" . Bloomberg News .
  3. ↑ Henning, Eyk (May 12, 2021). "Peter Thiel, Alan Howard, Richard Li invest in new crypto exchange Bullish". Fortune . Bloomberg News.
  4. ↑ Schwartz, Leo (February 13, 2024). "Bullish paid close to $75 million to acquire CoinDesk. Here's what we know about the company and its plans for crypto media". Fortune – via Yahoo Finance.
  5. ↑ Driebusch, Corrie; Huang, Vicky (August 13, 2025). "Bullish's Stock Soars in Latest Test for IPO Market". The Wall Street Journal .
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