Peter Thiel’s bull increased by 20% after green light for crypto change presentation
According to Yahoo Finance’s report, it increased by over 20% on Thursday after approved the shares of ascension to start the crypto exchange in the USA on Thursday.
The undergraduate, published by New York’s Financial Services Department, was the last major obstacle to the expansion of the US rise. On Wednesday, CEO Tom Farley has approved the company’s first call for the company since its opening to the public.
Tom said that the company has already received a regulatory permission to operate in many US states, but refused to open up for a national business until you get this special license from New York.
“Even though we have the ability to operate in many states because of our regulatory approval, we have avoided starting our change in the United States until the New York Province Financial Services Department took Bitlicense” he said. “We received this license yesterday and we look forward to bringing our change and our leading liquidity close to the US, and we believe it is the largest geographical market.”
Analysts raise their price targets after US approval
Taurus has already been licensed in Germany and Hong Kong and the stock market has been built for corporate customers, not retail traders. When New York is controlled, the company now has three major regulatory languages in the largest crypto judicial zone. Taurus is also the owner of Crypto News Site Coindesk.
The public market exit came after a long wait last month. In the beginning of the hoarse, he tried to open up to the public with a spac merger in 2021, but the agreement was killed after the organizers began to wander around. This time, it was listed with a standard public offering and set its price as $ 37 per share on August 14th. After the jump on Thursday, stocks are traded about 75% higher than this public offering level.
The company also reported its second quarter earnings on Wednesday. Revenue, a year ago in the same period of $ 60.7 million fell to $ 57 million. However, earning per share came to $ 0.93, a complete return from a loss of $ 1.03 last year.
Analysts did not waste time by reacting. Compass Point Analyst Ed obstacle, upgraded the price target from $ 45 to $ 56 and said they gave New York’s chances of giving a license. ED’s rating in the stock remains neutral.
In Bernstein, Gautam Chhugani is an expansion of the rise to the United States. “The basic growth catalyst for the next quarter.” Room pointed The company now has more than one layer license and adds it “The Taurus is now reinforces the positioning of more than one layer in large crypto markets as a regulatory language (German Bafin, Hong Kong SFC and USA Bitliceense) and globally regulated institutional crypto change.” Gautam’s target is $ 60.
Taurus is now one of a small crypto company that opened to the public in 2025.
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