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Block.one and partners raise $10B to launch EOS-based crypto exchange: Bullish Global

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Block.one and partners raise $10B to launch EOS-based crypto exchange: Bullish Global

Block.one, the company behind the EOSIO open-source blockchain software, announced today the formation of a newly formed subsidiary, Bullish Global.

Operating as an independent entity under the Block.one parent company, Bullish Global plans to launch sometime this year as a new blockchain-based cryptocurrency exchange 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.

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The Bullish exchange will offer new automated market making, lending, and portfolio management tools to its users. 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.

In doing so, it will be the first to bring externally verifiable state integrity to a high-performance trading and asset management platform.

Bullish Global has been capitalized with over USD $10 billion in cash and digital assets following an initial injection by Block.one of USD $100 million, 164,000 BTC, and 20 million EOS, and through the completion of an additional USD $300 million strategic investment round.

Among the investors leading the capital raise were Peter Thiel’s Thiel Capital and Founders Fund, Alan Howard, Louis Bacon, Richard Li, Christian Angermayer, Galaxy Digital, and global investment bank Nomura. In addition to participating in the latest funding round for Bullish Global, Peter Thiel, Alan Howard, Richard Li, and Christian Angermayer will serve as senior advisors to the company.

“The Bullish exchange will leverage blockchain technology and a new market architecture to revolutionize the high-performance trading landscape by transparently automating expensive third-party functions and turning them into yield-generating portfolio management tools to offer institutions and individuals better and safer access to the latest cryptocurrency investment strategies,” said Block.one CEO Brendan Blumer.

Source: block.one

Published at Tue, 11 May 2021 18:06:15 +0000

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