| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Thomas Farley, the CEO of Bullish (NYSE:BLSH), said on Wednesday that the passage of the cryptocurrency market structure bill will be “great” for the company and the broader industry.
During the company’s third-quarter earnings call, Farley expressed optimism that the bill would ultimately pass into law due to what he views as “bipartisan support.”
“I think it will be very helpful for the crypto industry, largely because of preemption, in other words, not having to go to each of the 50 states to get their very particular, in some cases, approvals for operating in the crypto business,” Farley said.
He added that this alone would be a “boon” for infrastructure providers like Bullish.
Farley also mentioned that the “legal certainty” the legislation would provide, akin to that on the stablecoin side following the GENIUS Act, could attract institutions, tokenization participants and asset issuers.
See Also: Can Bitcoin Crash To $10,000? Yes, If It Follows This 2018 Pattern, Expert Says
The optimism around the market structure legislation is not new. Last month, Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong also expressed similar sentiments, noting that both Democrats and Republicans are working "hard" to get it passed.
The Senate Agriculture Committee released a bipartisan draft of the legislation earlier this month, outlining clearer oversight roles for the CFTC and SEC in the cryptocurrency market through a unified federal framework.
Lawmakers expect the bill to advance through committees by late 2025, with a full Senate vote likely in early 2026.
Bullish reported third-quarter revenue of $76.5 million, surpassing analyst estimates of $71.2 million. The firm revealed earnings of 10 cents per share, in line with analyst estimates.
Meanwhile, Cathie Wood’s Ark Invest, one of Bullish’s prominent investors, doubled down on Wednesday, scooping up approximately $16.9 million worth of the company’s shares through its Ark Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK), and ARK Next Generation Internet ETF (BATS:ARKW).
Price Action: BLSH shares rose 1.26% to $36.85 in after-hours trading. The stock closed 3.63% lower at $36.39 during Wednesday’s regular trading session, according to data from Benzinga Pro.
Benzinga's Edge Stock Rankings showed that the stock had a weaker price trend in the short, medium, and long term. Compare it with fellow cryptocurrency exchange Coinbase Global Inc. (NASDAQ:COIN) by clicking here.
Read Next:
Photo Courtesy: jackpress on Shutterstock.com
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
