According to Odaily Planet Daily, CoinDesk's parent company, the cryptocurrency exchange Bullish (BLSH), saw its stock surge over 200% on its first day of US IPO, reaching a high of $118 per share. The stock price was currently trading at $93.21, despite multiple trading halts due to volatility.

Earlier news broke that digital asset trading platform Bullish raised $1.1 billion through its initial public offering, with an issue price of $37 per share, higher than the previous range of $32 to $33. The IPO was oversubscribed by more than 20 times, bringing its market capitalization to $5.4 billion.