Bullish Cryptocurrency Exchange Prepares to Go To Market and Go public on NYSE – Exchanges Bitcoin News

Crypto startup Bullish has announced its plan to go public on the NYSE as it prepares to launch a cryptocurrency exchange. The Bullish Exchange aims to be a “revolutionary, regulated cryptocurrency exchange that provides investors with deep, predictable liquidity to generate income from their digital assets”.

Bullish for listing on NYSE

Bullish announced its plan to go public on the New York Stock Exchange (NYSE) on Friday through a merger with Far Peak Acquisition Corporation (NYSE: FPAC). Far Peak is a special purpose vehicle for acquisitions (SPAC). Bullish, which debuted in May, detailed:

Bullish plans to launch a revolutionary, regulated cryptocurrency exchange that will provide investors with deep, predictable liquidity to generate income from their digital assets.

Bullish Exchange is operated by Bullish (GI) Ltd. and Jefferies LLC is acting as the exclusive financial and capital markets advisor. Thomas W. Farley, CEO of Far Peak, a past NYSE president, will become CEO of Bullish and Block.one CEO Brendan Blumer will be named chairman.

The Bullish and Far Peak joint venture has a pro forma share value of approximately $ 9 billion at $ 10 per share, according to the announcement.

The boards of directors of both companies have approved the planned transaction, which is expected to be completed by the end of the year. However, Far Peak shareholder approval and other customary closing conditions, including regulatory approvals, are still required.

The announcement adds:

In the coming weeks, Bullish Exchange will run a private pilot program leading to its public rollout, which is expected later in 2021.

Bullish is backed by well-known venture capitalists and investors including Peter Thiels Thiel Capital and Founders Fund, Alan Howard, Louis Bacon, Richard Li, Christian Angermayers Apeiron Investment Group, Galaxy Digital and the global investment bank Nomura.

Farley commented, “Given the increased interest from institutional players and experienced traders, it is important to revamp the existing exchange infrastructures we see today,” said:

We’re only in the first or second inning of the cryptocurrency market and I’m excited to be part of the Bullish team as we revolutionize the future of digital assets through cutting edge financial technologies.

What do you think of the bullish crypto exchange going public? Let us know in the comment section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons

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