Cryptocurrency exchange Bullish plans to raise $568-629 million in a US IPO, with BlackRock and ARK Investment Management interested in purchasing up to $200 million worth of stock. The company intends to use a portion of the IPO proceeds to convert into stablecoins. Bullish operates a digital asset platform and acquired CoinDesk for $72.6 million. Other crypto companies like BitGo, Kraken, and OKX are also pursuing IPOs, following the success of Circle’s IPO. Regulatory progress in the US, including the signing of the GENIUS Act, is driving the surge in crypto IPO activity.

Read more at Cointelegraph: CoinDesk owner Bullish eyes $4.2B valuation in IPO backed by BlackRock, ARK