Bullish, the cryptocurrency exchange backed by investor Peter Thiel, has initiated the roadshow for its initial public offering (IPO), aiming for a valuation of up to $4.23bn. The exchange plans to issue 20.

Bullish, the cryptocurrency exchange backed by billionaire Peter Thiel, said it would be seeking a valuation of more than $4 billion in an initial public offering.

Crypto exchange Bullish is targeting a valuation of up to $4.23 billion in its United States listing, the company said in a filing on Monday, launching its roadshow to capitalize on the momentum built by digital assets amid regulatory clarity.