Cryptocurrency Exchange Bullish files IPO to raise $629M by offering over 20 million shares; check price range and other details
According to news agency Reuters, companies leveraging crypto and related technologies have rallied on friendly policymaking from the Trump administration, such as the recent passage of the GENIUS Act, which provides an initial regulatory framework for stablecoins.
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At the top of its proposed range, the crypto exchange is set to list at a more than 52% discount to its $9 billion valuation target in a 2021 blank check merger that it called off in 2022, citing regulatory hurdles.
Bullish plans to convert a significant portion of the IPO proceeds to U.S.-dollar-denominated stablecoins with the assistance of one or more issuers of such tokens, it said in the filing.
Major stablecoin issuer Circle Internet had a blowout debut on the NYSE in June 2025 and currently trades at more than 400% of its IPO price. Reuters reported. INVESTOR FOCUS Bullish, whose CEO Thomas Farley previously served as president of the New York Stock Exchange, operates a crypto-trading exchange targeting institutions.
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It also operates a crypto news website, CoinDesk, which it acquired from Barry Silbert's Digital Currency Group in 2023. Bullish swung to a $349 million loss for the quarter ended March 31, compared with a profit of $105 million a year earlier, reflecting a fall in fair value of its crypto holdings.
Meanwhile, Coinbase, the largest public crypto exchange, reported a drop in second-quarter adjusted profit on Friday (August 1, 2025) due to a slowdown in trading, which dragged its shares down nearly 17%, even though the company recorded portfolio gains.
Some investors tend to overlook the impact of quarterly swings in crypto prices when evaluating such companies, analysts have said. According to Renaissance Capital's Kennedy, investors will focus on "how efficient (bullish) and how profitable it is as a pure exchange, without the impact of quarterly price changes." Bullish aims to list on the NYSE under the symbol "BLSH." J.P. Morgan, Jefferies, and Citigroup are the lead underwriters.
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Time of India
an hour ago
- Time of India
Student leaves Bluebells School after not paying fee for four years, now court orders parents to pay Rs 1.2 lakh with interest
A civil court in Delhi has directed a father to clear outstanding school fees amounting to over ₹1.2 lakh, with 10 percent interest, as reported by TOI. The student had attended Bluebells School International in south Delhi. Civil Judge Yashu Khurana said the suit filed by the school went unchallenged, as the parent, Virender Rana , did not appear to contest it. 'The case of the school stands duly proved by virtue of unchallenged suit and the documents placed on record,' said Advocate Atul Jain, appearing for the school. The school told the court that the father had failed to pay fees across four academic years: 2017-18, 2018-19, 2019-20 and 2020-21. The student eventually left the school in 2022 while in Class VII. 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The school also argued that it relied entirely on parental fees to function. The judge observed, 'Perusal of the record shows that the present suit was filed on Oct 16, 2024, whereas the cause of action last arose upon the plaintiff on Feb 7, 2024, when the defendant made the last payment against the outstanding amount.' A new bill targets fee regulation in Delhi schools On the same day that this ruling gained attention, Delhi Education Minister Ashish Sood presented a new bill in the Assembly aimed at regulating private school fees. Live Events The Delhi School Education (Transparency in Fixation and Regulation of Fees) Bill, 2025, introduced during the Monsoon Session, promises to bring more oversight to how private unaided schools set and raise their fees. 'Education is not a thing to be sold. This bill aims to halt the commercialisation of education. We are bringing the bill to take action against those mafias who are selling education,' said Sood. The draft legislation, which had received Cabinet approval in April, covers all 1,677 private unaided schools in the capital. It proposes structural changes, including a grievance redressal system, caps on fee increases, parent representation in decisions, and penalties of up to ₹10 lakh for violations. Sood called it a 'permanent solution to a long-ignored issue that affects millions of parents and children in Delhi.' He also added, 'This bill is a small effort on our part to honour Dr. Mukherjee's vision and to ensure that education does not become a burden on the people of India, but instead becomes a path leading them to a better future.' How the fee regulation will work The new bill introduces a three-tier regulatory framework meant to vet fee hike proposals and resolve disputes. School-level fee regulation committee Every private school must form a committee by 15 July each year. It will include five randomly selected parents from the Parent-Teacher Association, with at least two women and one member from SC, ST or other backward communities. A representative from the Directorate of Education (DoE) will also be on the panel, which is chaired by a school management representative. Schools must submit their fee proposal to this committee by 31 July. If approved by 15 September, that fee structure stays fixed for the next three academic years. However, if at least 15 percent of the school's parents disagree, they can escalate the matter to the district-level appellate committee by 30 September. District fee appellate committee This committee will examine disputes and must deliver a decision within 45 days. If the conflict is unresolved, the final appeal lies with the Revision Committee . Revision Committee This highest-tier body will give binding rulings that will remain valid for three years. According to Section 8 of the bill, criteria for setting fees will include the school's location, infrastructure, staff salaries and revenue surplus. Section 12 sets the penalties. An unauthorised fee hike could attract a fine between ₹1 lakh and ₹10 lakh, doubling every 20 days until compliance. Persistent offenders may be forced to refund overcharged fees and could lose school recognition. Transparency promised, but concerns persist The Delhi government argues that the bill will increase transparency and curb profiteering. It mandates schools to submit audited financials and infrastructure costs before proposing any fee hike. It also allows the Director of Education to order fee rollbacks and refunds if the hike is deemed unjustified. But many parents and political opponents remain sceptical. AAP: Bill protects profiteers, not parents Leader of Opposition Atishi has strongly criticised the bill. 'After letting private schools hike fees unchecked for four months, the BJP now brings a sham bill that hands control to school owners, blocks parent voices, and protects profiteers,' she said. The Aam Aadmi Party (AAP) has demanded that the bill be referred to a Select Committee and that all fee hikes for the 2024–25 academic year be frozen. Atishi also pointed out that introducing the bill after the academic session had already started allowed schools time to raise fees without scrutiny. Parents push back Several parents' groups have raised questions about the bill's design. The biggest concern revolves around the 15 percent threshold required to challenge a school's fee decision. Critics argue that this is an unrealistically high bar and effectively prevents parents from raising objections. 'Requiring a minimum of 15 percent of a school's parents to challenge the school-level Fee Regulatory Committee's decision before the district committee is nearly impossible. It effectively denies parents the right to contest arbitrary fee hikes,' said Ashok Agarwal, chairperson of the All India Parents Association, speaking to The Print. Others worry about the selection process for the parent members on the committee. Some feel it opens the door to tokenism and weakens true representation. Will the Bill rein in commercialisation? The bill does attempt to set clear limits: Schools can raise fees only once per academic year with prior approval They must disclose financial and operational data A three-stage complaints system is now in place Penalties are defined and severe for unauthorised hikes But gaps remain. There are no provisions to freeze current hikes, no retrospective control over hikes already enforced this year, and no strong deterrent against non-tuition charges. The school-led committees may also lack the independence needed for fair decisions. Crucially, the bill does not provide safeguards for students who may face expulsion due to fee disputes. The Delhi School Education (Transparency in Fixation and Regulation of Fees) Bill, 2025 is a long-awaited intervention in a space that has seen little regulation. It proposes systems where there were none. It talks about participation where decisions were once unilateral. But the big question is whether it does enough. For many parents, the answer may depend not just on the text of the law, but on how it plays out in classrooms, fee counters and committee rooms. The court's ruling against Virender Rana is a timely reminder of the pressure many families face. The challenge for lawmakers now is to ensure that regulation means real relief, not just another layer of red tape.
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an hour ago
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India's tax department investigating Jane Street over possible tax treaty misuse, sources say
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Time of India
an hour ago
- Time of India
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Authorities on Tuesday launched a rescue operation to retrieve a truck stuck on the Gambhira bridge in Gujarat's Anand district , weeks after the bridge collapsed on July 9, claiming over twenty lives. Anand Collector Praveen Chaudhary said the operation posed significant challenges due to the complex engineering and safety aspects involved. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Speaking to ANI, Chaudhary said, "It was difficult to rescue the engineering and safety aspects were the entire truck rescue operation is being carried out by the Vishwakarma Group of Porbandar... The team will use the main hydraulic stand jack and four pulling trucks...". He further stated that the setup to rescue the truck is almost complete, and authorities are prioritising safety and ensuring no lapses occur in the process. "A team of 50-60 people from the Vishwakarma group from Porbandar are working. Their priority is safety, as the operation has to be done from 900 meters away. It is expected that the truck will be rescued in the coming 2-3 days", the Collector added. Live Events Earlier, on July 26, Congress MP and Leader of Opposition in the Lok Sabha, Rahul Gandhi, visited Anand to meet the families of the victims who lost their lives in the bridge collapse. Meanwhile, following the Gambhira bridge tragedy, the Ahmedabad Urban Development Authority (AUDA) initiated a comprehensive inspection of all bridges under its jurisdiction as a precautionary measure. A section of the Gambhira bridge, which connects Vadodara and Anand, collapsed into the Mahisagar river on July 9, killing 20 and injuring several others. Following the incident, Gujarat Chief Minister Bhupendra Patel ordered a high-level inquiry into the recent bridge collapse incident.
