Bullish IPO raises $1.1B in oversubscribed debut at $5.4B valuation as Peter Thiel-backed exchange rides crypto market boom

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Bullish IPO has shaken up Wall Street after raising $1.1 billion in one of the year’s most oversubscribed listings. Backed by billionaire investor Peter Thiel, the crypto exchange priced shares at $37, above expectations, giving it a market value of about $5.4 billion.