Reuters: Bullish plans to expand IPO size, raising target valuation to $4.82 billion

ChainCatcher news, according to Reuters, the cryptocurrency trading platform Bullish, backed by Peter Thiel, has expanded its initial public offering (IPO) size, now targeting a valuation of up to $4.82 billion, a significant increase from last week's target of $4.2 billion.

The new plan involves selling 30 million shares at a price of $32 to $33 per share. At the highest price point, Bullish could raise approximately $990 million, an increase from the earlier plan (selling 20.3 million shares at $28 to $31 per share).

Bullish was launched by Block.one (the blockchain company behind EOS) in 2020, and BlackRock and Cathie Wood's ARK have indicated plans to purchase $200 million in shares. Bullish is expected to price on Tuesday and begin trading the next day under the ticker "FLY."