Cryptocurrency exchange Blic supported by Peter Thiel files for IPO = CNBC

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## IPO Rush in the New Regulatory Environment

According to a report by CNBC, the cryptocurrency exchange Blesh, supported by Peter Thiel, submitted an IPO application to the Securities and Exchange Commission (SEC) on the 18th. The company plans to list under the ticker symbol "BLSH" on the New York Stock Exchange.

Tom Farley, the CEO of Blesh, is a veteran of the financial industry and a former president of the New York Stock Exchange. The company spun out from Block.one, the developer of the cryptocurrency EOS, and received initial investments from Founders Fund, Thiel Capital, Nomura, and Mike Novogratz.

Blish has acquired the major cryptocurrency media outlet CoinDesk in 2023. In the first quarter of 2025, the company's exchange recorded an average daily trading volume exceeding $2.5 billion, ranking in the top 5 for spot trading volume of Bitcoin and Ethereum.

According to the IPO application documents, the total trading volume since the start of the service has exceeded $1.25 trillion. The company lists Binance, Coinbase, and Kraken as its main competitors.

This year, a surge in corporate IPOs has occurred in the cryptocurrency industry. The stablecoin issuer Circle has recorded a stock price increase of more than seven times since its IPO in June. The online trading platform eToro debuted in May, and Mr. Novogratz's Galaxy Digital also began trading on NASDAQ in May.

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