Bullish makes crypto IPO history, then tanks originally appeared on TheStreet.
Bullish, the global digital asset platform behind the BLSH stock ticker, has completed a landmark IPO, becoming the first U.S. public company to settle the majority of its offering proceeds in stablecoins.
The offering, which took place on August 14, raised $1.15 billion — a significant sum for a company bridging traditional finance and the digital asset economy. But what truly set the listing apart was its structure: proceeds were settled using a basket of stablecoins including USDC, EURC, PayPal USD (PYUSD), Ripple USD (RLUSD), and others, all held in custody by Coinbase.
Bullish operates a regulated spot and…
