Bullish

Bullish is a cryptocurrency exchange and blockchain technology company headquartered in New York, United States. 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 significant transaction volumes, including substantial Bitcoin and Ethereum trades during 2024. Bullish also owns the media outlet CoinDesk and holds approximately 24,000 Bitcoins.

Founded in 2020 by Brendan Blumer, who had previously launched Block.one, Bullish began its operations in May 2021. The company was initially seeded by Block.one with 164,000 Bitcoins valued at around $9 billion, in cash, and 20 million EOS.IO tokens. It also raised funds from investors including Peter Thiel, Alan Howard, Louis Bacon, Christian Angermayer, and Richard Li. Bullish was incorporated in the Cayman Islands on June 22, 2021.

In August 2025, Bullish became publicly listed through an initial public offering (IPO), raising over $1.1 billion. The IPO was priced above the initial range, valuing the company at approximately $5.41 billion. The company is led by CEO Thomas Farley, formerly of the New York Stock Exchange, and operates a crypto-trading exchange targeting institutions. Bullish is regulated in the U.S., Germany, Hong Kong, and Gibraltar, and plans to list on the NYSE under the ticker 'BLSH'.