Bernstein: Bullish will become the second largest institutional crypto exchange after Coinbase

Odaily Planet Daily News Bernstein analysts led by Gautam Chhugani believe Bullish will become the second largest institutional crypto exchange after Coinbase, provided it successfully launched its U.S. business in 2026 and set an initial target price of $60 for the company, giving it a "market performance" rating, citing the company's experienced management team and a strong advantage in operating the institutional exchange business. Analysts believe Bullish's stake in crypto media platform Coindesk may also serve as a springboard for its subsequent retail exchanges. (The Block)