$BLSH

Bullish (NYSE: BLSH) announced a $100 million stablecoin-based liquidity facility for USD.AI to finance AI infrastructure, particularly GPU assets. The facility will support USD.AI's lending operations and expand market-making on Bullish's exchange. Both companies aim to enhance AI capital expenditure models and transparent markets for compute-backed credit.

On Aug. 20, shares of crypto-related companies like MicroStrategy (MSTR), Coinbase (COIN), Bullish (BLSH), and Circle Internet Group (CRCL) rose 5-9% alongside a Bitcoin (BTC) rally to $72,000. Ethereum (ETH) also gained 15%, breaking $2,000. The surge follows U.S. President Trump's call for crypto legislation and Treasury bond market intervention. MSTR and COIN have gained 20% and 14% respectively in recent sessions, though MSTR is still down 25% YTD.

Bullish Inc (BLSH) stock rose 13.8% to $28.02 after Q2 2026 earnings beat estimates, with adjusted revenue of $92.6M and EBITDA of $29.5M. Subscription revenue hit a record $62.7M. Full-year guidance was raised. Canaccord maintained a Buy rating but lowered its price target to $45. The broader market also gained, supporting digital asset-related equities.

Bitcoin held near $64,000, up about 1.2% in 24 hours, while crypto-linked stocks fell in pre-market trading. Glassnode said BTC underperformed the S&P 500 in two of the last three sessions and only about one-third of days over three months. Circle (CRCL) fell over 3%, Robinhood (HOOD) about 2%, and Strategy (MSTR) about 1.5%.

Bullish (BLSH) shares fell 11% on Aug 14, 2026 to $24 after the SEC delayed its tokenization “innovation exemption” and canceled a scheduled meeting on crypto investment-contract rules. The prior day’s 12% post-earnings rally followed Q2 adjusted revenue of $92.6M and adjusted net income of $14.3M. Analysts cut price targets to $30 and $25; mean target $41.

Bullish (NYSE:BLSH) narrowed 2026 guidance for Subscription, Services and Other revenue to $225m to $245m and expects adjusted operating expenses of $225m to $230m and finance expenses of $52m to $60m. Management said it expects to close the proposed Equiniti Group acquisition in Jan 2027 after antitrust clearance, and discussed tokenization plans, volumes, and regulatory updates.

Tokenization-related stocks fell after the SEC delayed its planned “innovation exemption” for tokenized securities and canceled a meeting on proposed crypto offering rules, according to CoinDesk. Bullish (BLSH), Coinbase (COIN), Circle (CRCL) and Uniswap’s UNI dropped, with Uniswap down about 7%. The delay may slow adoption, Clear Street said.

Investing.com reports Bullish Inc (BLSH) shares fell about 9.2% mid-day after a post-Q2 2026 earnings jump. The quarter showed a $280 million net loss versus $108.3 million profit a year earlier. Analysts at Rosenblatt and JPMorgan cut price targets to $30 and $25 with Neutral ratings, while Compass Point raised its target to $30. CEO Thomas Farley sold shares earlier this year.

Bullish (NYSE:BLSH) reported adjusted revenue of $92.6M, up 62% YoY and above the $87.81M estimate, with adjusted EBITDA rising to $29.5M. Adjusted EPS missed the 10-cent consensus. Management guided 2026 subscription, services and other revenue to $225M-$245M and operating expenses to $225M-$230M. Analysts cut price targets after the results; shares fell 8.99% to $25.01.

Bullish (BLSH) reported Q2 2026 results on an earnings call. Digital asset sales were $32.6B versus $58.6B a year earlier. Adjusted revenue rose 62% to $92.6M, with SS&O revenue at $62.7M and adjusted EBITDA of $29.5M. Net loss was $280M. Full-year 2026 SS&O guidance is $225M to $245M. The Equiniti acquisition remains on track for a Jan 2027 close.