Peter Thiel-Backed Crypto Firm Bullish Files Confidentially for US IPO

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Bullish, a cryptocurrency exchange backed by Peter Thiel and a unit of blockchain software company Block.one, has confidentially filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission in recent weeks, according to the Financial Times on Tuesday.

Bullish previously attempted to go public via a special purpose acquisition company (SPAC) deal in 2021, but the effort collapsed in 2022 amid heightened regulatory scrutiny and rising interest rates that unsettled equity markets.

Unlike the Biden administration, the Trump administration has adopted a more lenient approach toward crypto regulation, supporting the industry’s policy goals. Under this environment, the Securities and Exchange Commission (SEC) has dropped several investigations.

Bullish aims to leverage renewed investor enthusiasm for digital assets during the current administration, the report added.

The company did not immediately respond to requests for comment, and Reuters could not independently verify the Financial Times report.

Bullish’s filing follows a similar move by crypto exchange Gemini, operated by billionaire twins Tyler and Cameron Winklevoss, which last week disclosed it had confidentially filed for a U.S. IPO.

IBM Targets Practical Quantum Computer by 2029, Reveals Roadmap for Larger Systems

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IBM announced on Tuesday its goal to deliver a practical quantum computer by 2029, detailing the steps it will take to achieve this milestone. The company also plans to develop a much larger quantum system by 2033.

Quantum computers utilize principles of quantum mechanics to solve complex problems that classical computers could take thousands of years to address. However, current quantum machines dedicate significant resources to error correction, limiting their overall speed advantage.

IBM aims to build the “Starling” quantum computer at a new data center under construction in Poughkeepsie, New York. The system is expected to feature about 200 logical qubits—units of quantum information—enough to demonstrate computational advantages over classical systems.

Competing alongside tech giants Microsoft, Google, Amazon, and various well-funded startups, IBM confronts the challenge of qubit errors by innovating in error-correction algorithms. Since 2019, IBM has adopted a novel approach by designing error-correction methods suited to practical, buildable chips rather than purely theoretical designs.

Jay Gambetta, IBM’s vice president of quantum initiatives, emphasized that the company has resolved the fundamental science questions and now faces a significant engineering challenge to scale up quantum systems. “We’ve answered those science questions. You don’t need a miracle now,” he said. “Now you need a grand challenge in engineering.”

IBM plans to release a series of quantum systems between now and 2027, paving the way toward the more powerful machines targeted for 2029 and beyond.

Voyager Technologies Raises $382.8 Million in U.S. IPO Amid Rising Military Spending

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Voyager Technologies, a space and defense technology firm, announced on Tuesday that it raised $382.8 million in its initial public offering (IPO) in the United States. The company and some investors sold approximately 12.35 million shares at $31 each, exceeding the initially marketed range of $26 to $29 per share.

The Denver-based company specializes in mission-critical space and defense technology solutions. Its IPO marks a positive sign for the U.S. market, which has recently recovered from volatility caused by tariff-related disruptions.

Voyager’s public debut aligns with the Trump administration’s efforts to significantly boost defense and space budgets. Last month, President Trump selected a design for the $175 billion Golden Dome project, a next-generation missile defense shield for the U.S.

The stock will begin trading on the New York Stock Exchange under the ticker symbol “VOYG” starting Wednesday. Morgan Stanley and J.P. Morgan served as lead underwriters for the offering.