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Block.One Subsidiary Bullish Set to go Public In a SPAC Deal Valued at $9 Billion

by Miki 07/09/2021
by Miki 07/09/2021 0 comment

Bullish Global, a crypto company and a unit of Block.One is going public on New York Stock Exchange (NYSE) via the SPAC merger later this year. The firm will merge with special purpose acquisition company (SPAC) Far Peak Acquisition by backed by Farley, the former NYSE president.

The crypto firm back by billionaire entrepreneur Peter Thiel’s Thiel Capital and Founders Fund, British hedge fund manager Alan Howard, U.S. hedge fund manager Louis Bacon, Hong Kong billionaire Richard Li, German investor Christian Angermayer’s Apeiron Investment Group, Galaxy Digital, and Japanese bank Nomura.

Brendan Blumer, Block.one’s chief executive officer and the incoming chairman of Bullish, said

“Bullish’s entry into the public markets allows our customers to take part in Bullish by holding a piece of our company, without any of the regulatory uncertainties or jurisdictional limitations of a profit-sharing token issuance,”

The merger would finalize by the end of 2021 post regulatory approvals and Far Peak stockholder’s approval. The crypto firm is expected to launch its own regulated exchange by the end of this year and it would offer “deep, predictable liquidity with technology that enables retail and institutional investors to generate a yield from their digital assets,”

Crypto Companies Continue to Grow in Demand

2021 has proven to the year of crypto companies as the first two quarters of 2021 saw $2 billion in investment in crypto firms. A number of crypto companies have raised over $100 million seeing their valuation grown into billions. Several crypto companies went public through the SPAC merger, only yesterday USDC stablecoin issuer Circle announced their SPAC merger as well at a $4.5 billion valuation.

Crypto adoption especially among Wall Street giants has continued despite a cold market. Many banking giants including JP Morgan, Goldman Sachs, and Bank of America are warming up to the cryptocurrency amid growing clients demand.

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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

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      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

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