CoinDesk parent company Bullish faces financial challenges as it explores IPO

Odaily Planet Daily News - The parent company of CoinDesk, Bullish, has recently secretly submitted an initial public offering (IPO) application to U.S. regulatory authorities, with plans to list on the New York Stock Exchange (NYSE) under the ticker "BLSH" if everything goes smoothly. However, the disclosure documents show that the company appears to be facing financial adjustments, reporting a net loss of $348.6 million in the three-month report ending March 31, 2025, in stark contrast to the $104.8 million profit in the same period last year. Despite this, the leadership of the exchange remains optimistic, emphasizing their mission to promote the adoption of stablecoins, digital assets, and blockchain technology. Since its establishment, the exchange's total trading volume has reached $1.25 trillion, with an average daily trading volume of $2.5 billion in the first quarter of 2025 alone. (Crowdfundinsider)