Home
News
- Block.one, is launching its new subsidiary, Bullish Global, which will launch the Bullish cryptocurrency exchange.
- Bullish will utilize Block.one’s open-source software, EOSIO, and the EOS Public Blockchain.
- Backed by prominent investors, Block.one raised over $10 billion in cash and digital assets to capitalize Bullish Global.
Adding to the ever-growing list of cryptocurrency exchanges currently at 377 according to the CoinMarketCap, the “Bullish” exchange will be launched sometime this year.
New Block.one Subsidiary Launch Announcement
Announced Tuesday, backed by a myriad of prominent investors, the blockchain software company, Block.one, is launching a new subsidiary, Bullish Global. The new unit will operate as an independent entity, focusing on the 2021-planned release of the “Bullish” crypto exchange. With its billionaire sponsors, Block.one successfully raised over $10 billion in cash and digital assets to capitalize the firm.
Bullish Global’s Bullish Exchange
According to the rescript, Bullish Global aims to “combine” the central order book technology-offered “performance, user privacy, and compliance” with “the vertically integrated user benefits of decentralized finance (Defi) market architecture.”
The firm’s resulting Bullish exchange will offer “new automated market making, lending, and portfolio management tools,” delivering the previously traditional finance-exclusive functionalities to its user base “while driving deeper liquidity to digital assets.”
As explained further, Bullish will utilize Block.one’s open-source software, EOSIO, and the EOS Public Blockchain to devise “a cryptographically validated, provable, and immutable audit trail” of all Bullish-processed transactions.
EOS Token: Price Surge
The launch news was accompanied by a massive surge in EOS price, more than 50% in the past 24 hours. At the time of writing, the token is trading at $13.8 with a market cap of over $13 billion.
Block. one’s Capital Raise
Block.one raised $10 billion funding for Bullish Global comprising $100 million, 164 thousand BTC, and 20 million EOS, plus a $300 million strategic investment round. The flourishing capital-raise witnessed significant investments from several renowned household names of the crypto-verse.
Leading the funding round were Peter Thiel’s Thiel Capital and Founders Fund, Alan Howard, Louis Bacon, Richard Li, Christian Angermayer, Mike Novogratz’s Galaxy Digital, and global investment bank Nomura.
Additionally, Peter Thiel, Alan Howard, Richard Li, and Christian Angermayer will also serve as senior advisors to the company.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
