CoinDesk parent company Bullish faces financial challenges as it explores IPO

Odaily Planet Daily News: CoinDesk's parent company Bullish has recently secretly submitted an initial public offering (IPO) application to US regulators. If everything goes well, it plans to be listed on the New York Stock Exchange (NYSE) with the stock code "BLSH". However, the disclosure documents show that the company is suspected of facing financial adjustments, reporting a net loss of US$348.6 million in the three months ending March 31, 2025, in sharp contrast to the profit of US$104.8 million in the same period last year. Despite this, the exchange's leadership remains optimistic, emphasizing that its mission is to promote the adoption of stablecoins, digital assets and blockchain technology. Since its inception, the exchange's total trading volume has reached US$1.25 trillion, and its average daily trading volume reached US$2.5 billion in the first quarter of 2025 alone. (Crowdfundinsider)