While August is typically a sleepy month for IPOs, Peter Thiel-backed crypto firm Bullish (appropriately named, it would seem) is set to buck that trend later this month with an initial public offering on the New York Stock Exchange.

Sources told me the round is already oversubscribed, with six times more investors trying to get in than can be accepted — Blackstone and Ark Invest have some of the largest buy-ins — in a sign that crypto mania is continuing.

After a prolonged crypto-winter where the price of digital coins was in the doldrums, Bullish’s impending IPO is the latest indication that we have reached crypto summer . 3

“It’s like holding a balloon underwater and, the moment you let go, it rips up,” Head of Investment at ReserveOne Sebastian Bea told me of companies now

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