According to Bloomberg, the crypto exchange Bullish, backed by Peter Thiel, has submitted updated documents to the U.S. SEC, planning to increase its IPO financing scale from the original $629 million to as much as $990 million, with the number of shares to be issued rising from 20.3 million to 30 million, giving the company a valuation of $4.8 billion. Previously, Bullish had planned to go public via SPAC at a valuation of $9 billion but canceled in 2022. This IPO is underwritten by JPMorgan, Jefferies, and Citigroup.

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