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.

Crypto exchange Bullish is looking to raise up to $629 million in its initial public offering, the company said in a filing with the Securities and Exchange Commission on Monday. The owner of the media outlet CoinDesk is eyeing the sale of 20.

The crypto exchange Bullish filed the parameters of its IPO, planning to raise $629M for a $4.2B valuation. The company's IPO price will range between $28 and $31, with purchase agreements with underwriters and early backers.