Is bullish launching a regulated crypto exchange?

Bullish, a unit of blockchain software company Block.one, plans to launch a regulated crypto exchange later this year.

Will bullish go public?

Crypto-exchange company Bullish — whose backers include Peter Thiel and other billionaires —announced plans Friday to go public via a merger with Far Peak Acquisition Corp. (NYSE: FPAC), a SPAC headed by ex-New York Stock Exchange President Thomas Farley. The deal will value Bullish at some $9B.

Who owns bullish?

Launched in May 2021, Bullish is backed by a roster of prominent investors including Peter Thiel’s Thiel Capital and Founders Fund, Alan Howard, Louis Bacon, Galaxy Digital, and investment bank Nomura. Far Peak said it doesn’t intend to seek a new merger partner and will instead focus on winding up either on March 7, 2023 or sooner.

Is bullish a profit-sharing token?

“Bullish’s entry into the public markets allows our customers to take part in Bullish by holding a piece of our company, without any of the regulatory uncertainties or jurisdictional limitations of a profit-sharing token issuance,” Brendan Blumer, Block.one’s chief executive officer and the incoming chairman of Bullish, said in an email to Reuters.