Block.one and investors raise $10 billion to create Bullish Global and a future crypto exchange on the EOS blockchain. The price of the token soars by 40%.
The public blockchain Ethereum has many rivals. Solana, Cardano, Polkadot compete with announcements to attract major projects on their own networks. However, there is also EOS.
The editor behind the open source software EOSIO and the blockchain EOS has just struck a blow. Block.one announces the launch of a new subsidiary: Bullish Global. The main mission of this entity in 2021 will be to create a cryptocurrency exchange.
Named Bullish, this future exchange will have the means to match its ambitions. To finance this project, Block.one has teamed up with renowned investors. And the figures speak for themselves. Bullish Global will have 10 billion dollars at its disposal.
This capital consists of both cash and digital assets. Block.one is contributing $100 million, 164,000 Bitcoins and 20 million EOS. A fundraising round with further investors added another 300 million dollars.
As a proof of the project’s solidity, Block.one has been able to convince big names in finance. Among these investors, Bullish Global counts hedge fund manager Alan Howard and Moore Capital CEO Louis Bacon.
Two other top recruits complete this prestigious cast, namely Peter Thiel, founder of PayPal and Palantir, and Mike Novogratz, billionaire and well-known boss of Galaxy Digital. Thanks to these investors, Bullish comes to the market with $10 billion.
This money will make a difference in DeFi. But the resources of the next exchange will not be its only differentiator. Bullish wants to combine performance, user privacy and compliance through a central order book.
Not surprisingly, the exchange will rely on the EOS network. This announcement alone is enough to increase the funding of the platform. The 20 million EOS tokens contributed by Block.one have gained over 40% since the release.
The company’s CEO, Brendan Blumer, is already promising to “revolutionize the high-performance trading landscape.” The executive also promises “institutions and individuals better and safer access to the latest cryptocurrency investment strategies. “