Block.one Raises $10 Billion from Big Names to Launch a Crypto Exchange Called ‘Bullish’ This Year
After the record $4 billion ICO, Block.one has again managed to raise $300 million from Peter Thiel, Alan Howard, Louis Bacon, Richard Li, Christian Angermayer, Galaxy Digital, and Nomura bank. EOS, meanwhile, is still down 60% from its 2018 ATH in the ongoing bull market.
Block.one, the software company behind the cryptocurrency EOS, has announced the launch of a new subsidiary Bullish Global.
Planned to be released this year itself, “Bullish” is a new blockchain-based cryptocurrency exchange. The exchange will be offering new automated market making, lending, and portfolio management tools, reads the official announcement on Tuesday.
The exchange will be utilizing the EOSIO software and EOS public blockchain “to produce a cryptographically validated, provable, and immutable audit trail of all transactions processed” on the platform.
Block.one has already raised more than $10 billion for this exchange.
While the initial investment of $100 million in cash, 164,000 BTC, and 20 million EOS came from Block.one itself, $300 million were raised from the big names like Peter Thiel’s Thiel Capital and Founders Fund, Alan Howard, Mike Novogratz’s Galaxy Digital, Louis Bacon, Richard Li, Christian Angermayer, and global investment bank Nomura.
“Bullish balance sheet is strong, and its vertical integration offers stability and liquidity to the cryptocurrency space. I’m happy to join Bullish as an investor and advisor as it gets started on a long and fruitful journey,” said Thiel.
Block.one is the same company that raised a record $4 billion during the 2017 initial coin offering (ICO) mania and received backlash from ESO investors who also filed a lawsuit against it for misleading investors in believing that EOS would be decentralized.
Since its launch at the peak of the last bull market in Jan. 2018, EOS has fallen from the top 10 cryptos list to sit at 23rd place with just over $9.3 billion market cap. As of writing, EOS is trading around $10, still down 60% from its all-time high of $22.71 in April 2018. EOS 54.08% EOS / USD EOSUSD $ 14.28
$7.7254.08% Volume 19.71 b Change $7.72 Open $14.28 Circulating 953.3 m Market Cap 13.61 b
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The company is launching the exchange Bullish which will have Peter Thiel, Alan Howard, Richard Li, and Christian Angermayer as its senior advisors.
“Successfully bridging the gap between digital assets and institutional actors will shape the future of the financial sector as we witness greater mainstream adoption of digital currencies,” said Howard.