Peter Thiel-Backed Crypto Exchange Bullish Surges More Than 160% In IPO

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📝 usncan Note: Peter Thiel-Backed Crypto Exchange Bullish Surges More Than 160% In IPO

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Topline

Shares of Bullish, the crypto exchange backed by billionaire Peter Thiel, more than doubled their initial offering price Wednesday after the company raised more than $1 billion, becoming the latest debut on Wall Street to find initial success.

Trading was briefly halted for the Peter Thiel-backed crypto exchange as shares rallied well above its IPO price.

Key Facts

Bullish, which issued an IPO price of $37 per share, opened at $90 and peaked at about $118 before the stock pared gains back down to around $88 as of around 1:25 p.m. EDT.

This is a developing story.