Supported by Peter Thiel, Bullish hopes for a US IPO valuation of up to $4.2 billion. Skip to main content

Japan’s economy slows, missing growth forecasts

Japan's Economy Slows, Missing Growth Forecasts: A Deeper Dive into the Consequences Jean's economy has been dealt a significant blow as the latest data reveals a sluggish growth rate of 0.3 percent in the second quarter, falling short of initial forecasts. The underwhelming performance can be attributed to a decline in consumption and capital spending, posing significant concerns for the country's economic trajectory. As the world's third-largest economy, Japan's slowdown is likely to have far-reaching implications for the global market. Key Highlights: Sluggish GDP growth: Japan's GDP rose by a mere 0.3 percent in the second quarter, missing initial forecasts and sparking concerns about the country's economic momentum. Decline in consumption: Weakened consumer spending, which accounts for roughly 60 percent of Japan's economy, has been a major contributor to the slowdown. Capital spending sag: A decline in capital expenditure has also hin...

Supported by Peter Thiel, Bullish hopes for a US IPO valuation of up to $4.2 billion.



Exchange of cryptocurrency The company launched its roadshow to take advantage of the momentum created by digital assets in the face of regulatory clarity, and Bullish stated in a filing on Monday that it is aiming for a valuation of up to $4.23 billion in its US listing.
Businesses that use cryptocurrency and associated technologies have embraced the Donald Trump administration's pro-crypto policies, like the GENIUS Act, which was recently passed and offers a preliminary stablecoin regulatory framework.
With the help of one or more issuers of such tokens, Bullish, which is supported by billionaire Peter Thiel, intends to convert a sizeable amount of the IPO proceeds to stablecoins denominated in US dollars, the filing stated.
Circle Internet, a significant stablecoin issuer, made a spectacular NYSE debut in June and is now trading at over 400% of its initial public offering price.
Bullish is making its second attempt to go public in four years, offering 20.3 million shares at prices ranging from $28 to $31 each in an attempt to raise up to $629.3 million.
The company will list at the top of its suggested range on a more than 52% discount to its $9-billion valuation target in a 2021 blank check merger that it canceled in 2022 due to regulatory obstacles.
Bullish is a crypto-trading exchange that targets institutions and is regulated in the United States, Germany, Hong Kong, and Gibraltar. Its CEO, Thomas Farley, was the president of the New York Stock Exchange before joining the company.
Additionally, it runs CoinDesk, a cryptocurrency news website that it purchased in 2023 from Barry Silbert's Digital Currency Group.
The company intends to list on the NYSE under the symbol "BLSH," and its primary underwriters are J.P. Morgan, Jefferies, and Citigroup.


SOURCE: NEWS AGENCY

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