[Video] Peter Thiel’s $10B Crypto Power Play: Why Bullish’s IPO Could Flip the Future of Finance
- clear path
- Sep 26
- 2 min read
Watch the Full Breakdown:
No Hype. Just Power Moves.
While most crypto projects scream for attention, Peter Thiel just made a silent, seismic move.
His crypto exchange, Bullish, quietly filed to go public on the New York Stock Exchange, under ticker BLSH. No press release. No party. Just raw confidence backed by $10 billion in assets.
This isn’t just about crypto - it’s about owning the infrastructure of digital finance itself.
The Origin Story: From Block.one to Bullish
In 2018, Block.one raised a record-setting $4 billion through an ICO.
Backed by Thiel, the company launched Bullish in 2021 - complete with Wall Street heavyweight Tom Farley (former NYSE President) as CEO.
After a failed SPAC in 2022, the exchange is now taking the traditional IPO route in 2025.
Who’s Bullish Built For?
Not for retail.
Bullish targets hedge funds, oil billionaires, and institutional capital. Its model focuses on:
Deep liquidity (move $100M with no slippage)
Near-zero spreads (great for HFT)
Secure custody
Crypto derivatives, staking & lending
But Q1 2025 revealed a $348M loss, reversing last year’s $104M profit. Still, the platform has moved $1.25 trillion since launch.
Why Bullish Thinks It Can Win
Thiel’s Political Armor: Ties to Palantir and D.C. bring regulatory insulation.
Wall Street Underwriters: Jefferies, Citi, and JPMorgan are backing the IPO.
Tech Firepower: Millisecond-level derivatives processing.
Media Control: Bullish owns CoinDesk, a major crypto news outlet.
The Bigger Play: Thiel’s Long Game
Peter Thiel’s goal isn’t to trend. It’s to own the pipes of financial infrastructure.
“Competition is for losers.” – Peter Thiel
He’s not building another Coinbase. He’s building what Coinbase might depend on.
Final Thought
Will Bullish become the queen in Thiel’s financial chess game - or just another pawn?
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