Circle CEO Jeremy Allaire addresses stablecoin growth after firm's first earnings: CNBC Crypto World
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
24 minutes ago
- CNBC
eToro CEO: The future of all assets is to become digital assets
Yoni Assia, eToro CEO, joins CNBC's 'Money Movers' to discuss outlooks on Bullish's IPO, how competitive the crypto landscape is, and much more.
Yahoo
an hour ago
- Yahoo
Peter Thiel-Backed Bullish Is About to IPO. Should You Buy BLSH Stock?
Hoping to follow the blockbuster initial public offerings of peer crypto companies Circle (CRCL) and eToro (TORO), Peter Thiel-backed Bullish is set to make its debut and could start trading as soon as today, Aug. 13. Will Thiel, who had earlier backed retail darling Palantir (PLTR), be proven right again, and should investors buy BLSH stock once it starts trading? About Bullish Founded fairly recently in 2020, with former New York Stock Exchange President Tom Farley as its CEO, Bullish is a regulated, institutional-grade cryptocurrency exchange and digital asset infrastructure platform. It supports both spot and derivatives trading, backed by blockchain-powered order systems and a treasury-backed financial model designed for deep liquidity and compliance. It acquired CoinDesk in 2023, a leading media, data, events, and indexes company specializing in the cryptocurrency and digital asset industries. More News from Barchart Warren Buffett Warns Investing At 'Too-High Purchase Price' Even for 'an Excellent Company' Can Undo a Decade of Smart Investing BitMine Immersion Now Holds 1.15 Million Ethereum Tokens. Should You Buy BMNR Stock Here? Why Archer Aviation's (ACHR) Post-Earnings Tailspin Looks Like a Favorably Mispriced Opportunity Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Earlier aiming for a valuation of $4.2 billion with a price range of $28-$31 a share, Bullish has now raised its IPO size to $990 million. From an earlier offering of 20.3 million shares, the company will now offer 30 million shares in the price range of $32-$33 per share at a valuation of $4.8 billion. Notably, the firm already has some elite backers in the form of Peter Thiel's Founders Fund, BlackRock, ARK, and others. Promising Story With Steady Financials Bullish has seen impressive growth in its revenue over the past three years. While in 2022 the company reported digital asset sales of $72.9 million, this grew to $250.2 million by 2024. For the first three months of 2025, Bullish's digital asset sales stood at $80.2 million compared to $80.4 million in the year-ago period. In terms of the bottom line, Bullish reported a net loss of $349 for Q1 2025 compared to a profit of $105 million. The prospects of the market in which Bullish operates are well… quite bullish. A 2025 report released by Spherical Insights places the estimated value of the global digital asset trading platform market at roughly $2.5 billion in 2023. Over the coming decade, the same report expects this figure to reach close to $11 billion by 2033. That would represent a compound annual growth rate in the region of 16%, a level that underlines the industry's strong growth potential. The underlying momentum, according to the research, stems mainly from two forces. One is the steady rise in participation from retail investors as well as large institutional traders. The other is the growing appetite for access to the most advanced and innovative trading platforms without geographic limitation. In such an environment, Bullish has certain advantages. It operates a complete range of trading and market intelligence services and is led by a management team with notable industry experience. Its plans for expansion are centered on obtaining further regulatory approvals to enter new regions, developing additional products, evaluating buyout opportunities, and solidifying the links between its trading, data, and media operations. However, competition is far from limited. Major exchanges such as Coinbase (COIN) and Robinhood (HOOD) continue to hold substantial positions in the market. There is also the matter of Bullish's status as a foreign private issuer, which permits a lower level of financial disclosure than would be required for a domestic listing. Moreover, the company's sizable holdings of digital assets can expose its earnings to swings in asset valuations, a factor that could add volatility to results and draw attention to transparency considerations. On the date of publication, Pathikrit Bose did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
CoinDesk owner Bullish shares indicated to open nearly 62% above IPO price in debut
(Reuters) -Shares of cryptocurrency exchange operator Bullish were indicated to open nearly 62% above their IPO on Wednesday, signaling growing investor confidence in the sector and boosting prospects for future U.S. listings by other digital asset firms. If the stock starts to trade at the last indicated range of $55 to $60 on the NYSE, it could potentially value the billionaire venture capitalist Peter Thiel-backed company at nearly $8.77 billion. Bullish raised $1.11 billion in the largest U.S. listing by a digital assets company this year, marking another sign of mainstream adoption in a sector that recently topped $4 trillion in market value. Stablecoin giant Circle had raised $1.05 billion in its initial public offering in June, before a blowout debut. As of last close, Circle shares were trading more than five times above their IPO price. Bullish, which acquired cryptocurrency website CoinDesk in 2023, had priced the IPO at $37 per share — above an already upsized range, and was valued at $5.41 billion. A string of regulatory wins under a pro-crypto White House, corporate treasury adoption, and ETF inflows have prompted investors to embrace the once-scorned digital asset class, driving bellwether bitcoin to record highs. Several crypto firms, including exchange Gemini and asset manager Grayscale, are now aiming to go public during an IPO window revived by robust tech earnings, along with expectations of easing tariffs and interest rates. J.P. Morgan and Jefferies were the lead underwriters for Bullish's IPO.
