Crypto Exchange Bullish Buys Equiniti For $4.2 Billion

CryptoProwl

Tue, May 5, 2026 astatine 7:35 AM CDT 2 min read

Cryptocurrency speech Bullish (NYSE: $BLSH) is acquiring transportation cause and shareholder services steadfast Equiniti for $4.2 cardinal U.S.

In a quality release, Bullish said the Equiniti acquisition volition supply it with a halfway portion of accepted marketplace infrastructure arsenic it looks to propulsion into tokenized stocks.

The transaction involves $1.85 cardinal U.S. of assumed Equiniti indebtedness and $2.35 cardinal U.S. successful Bullish stock, priced astatine $38.48 U.S. per share.

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Bullish, which focuses connected crypto trading for organization investors, said the combined companies volition connection an end-to-end level that covers token design, issuance, compliance, registry and secondary trading. 

Equiniti maintains records for much than 2,500 companies and 20 cardinal shareholders, and processes astir $500 cardinal U.S. successful yearly payments. 

Currently, Equiniti serves astir 3,000 issuer clients and 15,000 firm clients, with implicit 5,000 associates moving successful its operations.

Once the acquisition is finalized, Equiniti’s enactment squad volition clasp day-to-day work for operations and lawsuit relationships nether the Bullish umbrella.

The combined institution is expected to make $1.3 cardinal U.S. successful yearly revenue.

Bullish reported $94.3 cardinal U.S. successful net connected $288.5 cardinal U.S. successful gross for each of 2025. 

The acquisition of Equiniti comes amid a question of consolidation successful the cryptocurrency manufacture arsenic firms contention to consolidate and physique full-stack fiscal infrastructure.

Crypto mergers and acquisitions (M&A) rebounded successful 2025, with much than 260 deals totaling $8.6 cardinal U.S., according to marketplace data. 

BLSH banal has declined 42% since the institution went nationalist past summer. The shares are presently trading astatine $40.70 U.S. per share.