NYSE parent company, Intercontinental Exchange, has invested $2 billion in the crypto prediction market Polymarket at a $9 billion valuation. Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), invested $2 billion in cryptocurrency-based prediction market Polymarket. According to a Tuesday Polymarket X post, the ICE invested $2 billion in the prediction market. The deal values Polymarket at a $9 billion post-money valuation. ICE’s NYSE is the world’s largest stock exchange by market capitalization, exceeding $25 trillion as of July 2024. Its interest is the latest move that fuses the United States’ traditional financial landscape with the cryptocurrency industry. Read more
From a $37 IPO to $118 intraday, Bullish’s NYSE debut highlights Wall Street’s growing appetite for regulated crypto businesses. Cryptocurrency exchange operator and media company Bullish made an enormous public debut on the New York Stock Exchange, with shares surging as much as 218% — a clear sign of heightened institutional appetite for crypto-related assets. After weeks of speculation, Bullish went public on Wednesday at an IPO price of $37, above its earlier target range of $32 to $33 per share. The stock, trading under the ticker symbol BLSH, soared to an intraday high of $118.00, marking a 218% gain from its IPO price, on trading volume of roughly 38 million shares, according to Yahoo Finance data. Read more
Cayman Islands-based Bullish has filed for IPO registration with the SEC, aiming to list on NYSE as “BLSH.” Bullish, a cryptocurrency exchange owned by Bullish Global, has filed for an initial public offering (IPO) in the United States. The Cayman Islands-based firm plans to list its ordinary shares on the New York Stock Exchange (NYSE) under the ticker symbol “BLSH.” The exact number of shares to be offered and the price range remain unspecified, according to a Friday F-1 registration statement filed with the US Securities and Exchange Commission (SEC). However, the exchange has granted the underwriters a 30-day option to purchase additional shares. For fiscal year 2024, Bullish reported a net income of approximately $80 million. However, despite this positive full-year result, the company experienced a significant downturn in the first quarter of 2025, reporting a net loss of $349 million compared to a $104.8 million net profit in the same quarter of 2024. Read more
Galaxy Digital warns Robinhood’s plan to tokenize stocks on its new chain could divert liquidity from NYSE and other major exchanges. Robinhood’s plan to tokenize stocks on its new Ethereum-compatible blockchain could shift trading volume away from traditional exchanges like the NYSE, undermining their core revenues from trading fees and market data, according to Galaxy Digital. At the EthCC conference this week, Robinhood CEO Vlad Tenev detailed plans for “Robinhood Chain,” an Ethereum-compatible layer-2 on Arbitrum Orbit. The blockchain will let users trade tokenized derivatives of stocks directly onchain, moving asset trading outside traditional exchange hours. Tenev explained that a new token engine operating on the Robinhood Chain will provide users with tokenized derivatives of their assets, enabling them to self-custody these tokens or interact with a decentralized application. Read more
Circle had boosted its IPO to a range of $1.05 billion on June 4 as investor demand grew significantly. Stablecoin issuer Circle made a strong entry into the public market on June 5, with its shares climbing 167% on its first trading session on the New York Stock Exchange (NYSE). Under the CRCL ticker, Circle’s shares opened at $31, surging 235% in the first hours of negotiation before closing at $82 at the end of the day. The company’s performance hints at a growing market appetite for stablecoin businesses. The oversubscribed round had some significant tailwinds. On May 28, the world’s largest asset manager, BlackRock, revealed it was eyeing a 10% stake in the IPO. Cathie Wood’s ARK Investment was reportedly interested in buying $150 million worth of shares of the offering. Read more
As part of its 24 million-share IPO, Circle will be offering 9.6 million shares of Class A common stock, while selling stockholders will offer the remaining 14.4 million shares. Circle, the issuer of USDC, the second-largest stablecoin by market capitalization, has launched an initial public offering (IPO) of 24 million shares of its Class A common stock, the company said on May 27. The firm has applied to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker symbol CRCL. As part of the offering, Circle is issuing 9.6 million shares of Class A common stock, the company said in a news release. The remaining 14.4 million shares of Class A common stock will be offered by selling stockholders. Circle is also expected to grant the underwriters a 30-day option to buy up to an additional 3.6 million shares of Class A common stock to cover over-allotments. Read more