Bullish Global, a subsidiary of Block.one, will launch a new cryptocurrency exchange called “Bullish” this year. It has the support of many well-known investors, including Peter Thiel, Alan Howard, Louis Bacon, Richard, Mike Novogratz, Christian Angmayer and investment bank Nomura.

Bullish global launch of bullish exchanges

Block.one, the software company behind EOSIO open source software, announced on Tuesday the launch of a newly established subsidiary, Bullish Global, which has more than $10 billion in cash and digital assets.

Bullish Global is an independent entity dedicated to launching a new cryptocurrency exchange called Bullish. The announcement stated: “It aims to combine the performance, user privacy and compliance provided by the central order book technology with the vertically integrated user advantages of the decentralized finance (Defi) market architecture,” the announcement stated:

Bullish Exchange will provide its users with new automated market making, lending and portfolio management tools to provide functions previously monopolized by existing participants in the traditional financial industry, while promoting a deeper level of digital asset liquidity.

The company further explained: “Bullish will use EOSIO and EOS public blockchains to generate password-verified, provable and unchanging audit trails for all transactions processed on the Bullish platform.”

After the announcement of the bullish exchange, the price of EOS has risen by nearly 50% in the past 24 hours. Currently, the price of each coin is $13.63.

Bullish Global’s initial funding of US$10 billion from Block.one includes US$100 million, 164,000 BTC, 20 million EOS and a strategic investment of US$300 million.

Notable investors leading the financing include Peter Thiel’s Thiel Capital and Founders Fund, Alan Howard, Louis Bacon, Richard Lee, Christian Angmayer, Mike Novogratz’s Galaxy Digital and global investment bank Nomura. Peter Thiel, Alan Howard, Richard Li and Christian Angermayer will also serve as senior advisors to the company.

See also  The new Bitcoin exploration competition gives people a chance to find crypto seeds hidden in pictures

How do you think this cryptocurrency exchange is bullish? Let us know in the comments section below.

Picture Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for reference only. It is not a direct offer or solicitation of an offer, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. The company or the author shall not bear any direct or indirect responsibility for any damage or loss caused or allegedly caused by using or relying on any content, goods or services mentioned in this article or related thereto.