A recently formed cryptocurrency company with $10 billion in capitalization is gearing up to go public.
Bullish Global, a subsidiary of blockchain software company Block.one, launched in May with $10 billion in funding from high-profile investors that include billionaire Peter Thiel’s Thiel Capital and Founders Fund, hedge fund manager Alan Howard, and crypto investment firm Galaxy Digital.
According to a new press release, the cryptocurrency firm is unveiling its plan to go public ahead of the anticipated rollout of its blockchain-based cryptocurrency exchange, Bullish.
Bullish will come with decentralized finance (DeFi) functionalities on top of crypto exchange features, including tools for portfolio management, automated market making, and lending.
The firm says it is going public on the New York Stock Exchange through a merger deal with Far Peak Acquisition (FPAC), a special purpose acquisition company (SPAC) led by former NYSE president Thomas W. Farley.
“The business combination of Bullish and Far Peak has a pro forma equity value