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, headquartered in George Town, Cayman Islands, provides infrastructure and services related to digital assets and blockchain technology. [1]

Contents

The company operates Bullish Exchange, a cryptocurrency exchange licensed in Germany, Hong Kong, Gibraltar, and New York State. As of March 2025, it had processed $1.25 trillion in transactions, including $284.8 billion in Bitcoin transactions and $144.5 billion in Ethereum transactions processed in 2024. [1] The company also owns CoinDesk . [1] As of March 2025, it also owned 24,000 Bitcoins. [1]

History

The company was founded in 2020 by Brendan Blumer, who had launched Block.One. [2]

Operations were launched in May 2021. [2] At that time, the company was seeded by Block.One with 164,000 Bitcoins valued at around $9.7 billion, $100 million in cash, and 20 million EOS.IO tokens, which power Block.one transactions. The company also raised $300 million from investors including Peter Thiel, Alan Howard, Louis Bacon, and Richard Li. [3]

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

In 2021, the company planned to became a public company via a $9 billion merger with a special-purpose acquisition company (SPAC); however, the plan was rescinded in December 2022 after the SPAC did not have enough time to obtain approvals. [2]

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

In August 2025, the company became a public company via an initial public offering, raising $1.1 billion. [5]

See also

References

  1. 1 2 3 4 5 6 "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 Ge (August 13, 2025). "Bullish's Stock Soars in Latest Test for IPO Market". The Wall Street Journal .
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