To finish off today’s video we will talk about the huge news that a recently established crypto company with a total of 10 billion USD in market cap is planning to go public soon.
Bullish Global, a subordinate of blockchain software firm Block. one was inaugurated in May with 10 billion USD in financing from prominent investors including magnate Peter Thiel’s company Thiel Capital as well as Founders Fund, cryptocurrency investment company Galaxy Digital and investment fund manager Alan Howard.
As reported by a new press release, the crypto firm is set to reveal its plans to go public before the expected rollout of its blockchain-centric crypto exchange firm, Bullish.
Bullish will be integrated with DeFi (or decentralized finance) capabilities aside from cryptocurrency exchange features which include tools for portfolio management, lending, and automated market-making.
The company has revealed that it is going to go public on the NYSE via a merger deal with Far Peak Acquisition (or FPAC), a SPAC (or special purpose acquisition company) spearheaded by the former president of NYSE, Thomas W. Farley.
Farley is set to act as the chief executive director of Bullish, all the while Block.com chief executive officer Brendan Blumer will act as chairman of the firm once the deal is done.
As reported by the press statement, the deal is expected to come to a close towards the end of the year. The news comes as Bullish gets ready to prepare to carry out a private pilot test program before its public inauguration towards the end of 2021.
According to what Farley revealed, Bullish is going to be geared towards “technological innovation” in the banking industry space.
He also revealed that Bullish aims to represent a brighter future for the banking industry. With the ever-increasing interest from institutional and sophisticated traders. He added that it is important to iterate on the present exchange infrastructures seen today.
According to Farley, Bullish is in the current position to tactically deliver value to its potential shareholders as it underwrites trends in the markets and puts tech innovation at the centre of its identity.
