A new cryptocurrency exchange called “Bullish” will be launched this year by Bullish Global, a subsidiary of Block.one. It is backed by a number of prominent investors, including Peter Thiel, Alan Howard, Louis Bacon, Richard Li, Mike Novogratz, Christian Angermayer, and investment bank Nomura.
Bullish Global Launching Bullish Exchange
Block.one, the software company behind the EOSIO open-source software, announced Tuesday the launch of a newly formed subsidiary, Bullish Global, which is capitalized with over $10 billion in cash and digital assets.
Bullish Global operates as an independent entity and is focused on launching a new cryptocurrency exchange called Bullish. It is “designed to combine the performance, user privacy, and compliance offered by central order book technology with the vertically integrated user benefits of decentralized finance (Defi) market architecture,” the announcement notes, adding:
The Bullish exchange will offer new automated market making, lending, and portfolio management tools to its users to deliver functionality that has previously been monopolized by incumbent players in traditional finance, while driving deeper liquidity to digital assets.
The company further explained: “Bullish will utilize EOSIO and the EOS Public Blockchain to produce a cryptographically validated, provable, and immutable audit trail of all transactions processed on the Bullish platform.”
Following the Bullish exchange launch news, the price of EOS jumped almost 50% in the past 24 hours. It currently stands at $13.63 per coin.
Bullish Global’s $10 billion initial funding from Block.one comprises $100 million, 164K BTC, 20 million EOS, and a $300 million strategic investment round.
Among the renowned investors leading the capital raise were Peter Thiel’s Thiel Capital and Founders Fund, Alan Howard, Louis Bacon, Richard Li, Christian Angermayer, Mike Novogratz’s Galaxy Digital, and global investment bank Nomura. Peter Thiel, Alan Howard, Richard Li, and Christian Angermayer will also serve as senior advisors to the company.
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