Peter Thiel Backed Exchange “Bullish” which already made news by raising $10 Billion, Recently there have been many updates regarding the exchange that suggest that the Future of EOS & Block.one is very bright.

SoftBank to Invest $75M in “Bullish”

SoftBank’s investment unit, SB Northstar, agreed to invest $75 million in Block. one’s  cryptocurrency exchange, Bullish. A filing to the SEC on July 9, 2021, indicated that SoftBank will buy $7.5 million units of shares at a price of $10 each.

Previously, the Tokyo-based company invested $300 million in a private offering to demonstrate its commitment. At present, Bullish has a market value of $9 billion and plans a merger with Far Peak.

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Peter Thiel Backed “Bullish” Announces Intent to Go Public on New York Stock Exchange

Bullish, announced its intention to go public through a merger with Far Peak Acquisition Corporation (NYSE: FPAC), a special purpose acquisition company.

Bullish plans to launch a revolutionary, regulated cryptocurrency exchange that offers deep, predictable liquidity for investors to generate a yield from their digital assets.

The business combination of Bullish and Far Peak has a pro forma equity value at the signing of approximately US$9.0 billion at US$10 per share, to be adjusted at transaction closing based on crypto asset prices around that time. Proceeds include net cash in trust of approximately US$600 million (assuming no redemptions) and US$300 million of committed PIPE anchored by EFM Asset Management, with participation from funds and accounts managed by BlackRock, Cryptology Asset Group, and Galaxy Digital.

“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.

Bullish Global has been capitalized with over US$10 bn in cash and digital assets following an initial injection by Block. one of US$100 mn, 164,000 BTC, and 20 mn EOS, and through the completion of an additional US$300 mn strategic investment round. The capital raise was led by renowned investors including Peter Thiel’s Thiel Capital and Founders Fund, Alan Howard, Louis Bacon, Richard Li, Christian Angermayer, Galaxy Digital, and global investment bank Nomura.

Who is Peter Thiel?

Peter Thiel is an entrepreneur and investor. He co-founded PayPal, led it as CEO, and took it public; he made the first outside investment in Facebook, where he serves as a director, and he co-founded Palantir Technologies, where he serves as chairman. He has provided early funding for LinkedIn, Yelp, and dozens of startups, many run by former colleagues who have been dubbed the “PayPal Mafia.” He is a partner at Founders Fund, a Silicon Valley venture capital firm that has funded companies including SpaceX and Airbnb. He started the Thiel Fellowship, which funds young entrepreneurs, and he leads the Thiel Foundation, which works to advance technological progress and long-term thinking.

Besides participating in the latest funding round for Bullish Global, Peter Thiel, Alan Howard, Richard Li, and Christian Angermayer will also join as senior advisors to the company.

“Successfully bridging the gap between digital assets and institutional actors will shape the future of the financial sector as we witness greater mainstream adoption of digital currencies, and I am excited about being involved with Bullish’s mission to give its users more value-added control over their financial future,” said Howard.