Peter Thiel-backed crypto exchange Bullish is considering an IPO, collaborating with Jefferies Financial Group for a potential listing. This follows its failed 2021 SPAC merger. The move aligns with improving market conditions and clearer crypto regulations. Bullish, led by CEO Tom Farley, holds $10 billion in digital assets and cash, employing over 275 people globally. The IPO would position it among other crypto firms going public, amid expectations of a pro-crypto stance from the U.S. government. Discussions continue, with no official comments from Bullish or Block.one. The exchange’s success depends on market sentiment and regulatory developments.