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 Ethereum blockchain has many rivals. Solana, Cardano, Polkadot compete for advertisements to attract major projects to their own networks. However, you also have to reckon with EOS.
The publisher behind the open source EOSIO software and the EOS blockchain 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.
A new crypto giant is born on EOS
Called Bullish, this future exchange will have the means to fulfill its ambitions. To fund this project, Block.one has teamed up with renowned investors. And the numbers speak for themselves. Bullish Global will have $ 10 billion.
This capital consists of both cash and digital assets. Block.one thus brings 100 million dollars, 164,000 Bitcoins and 20 million EOS (10.9 euros per token). Fundraising from investors adds another $ 300 million.
Proof of the solidity of the project, Block.one was able to convince big names in finance. Among these investors, Bullish Global thus counts the manager of hedge funds Alan Howard and the CEO of Moore Capital, Louis Bacon.
Two other prime recruits complete this prestigious cast, namely Peter Thiel, founder of PayPal and Palantir, as well as Mike Novogratz, billionaire and well-known boss of Galaxy Digital. Thanks to these investors, Bullish landed on the market with 10 billion dollars.
The promise of a trading revolution
This money will make the 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.
Unsurprisingly, the exchange will therefore rely on the EOS network. This announcement alone is enough to increase funding for the platform. The 20 million EOS tokens contributed by Block.one have gained more than 40% since the release of the press release.
Company CEO Brendan Blumer is already promising to ” revolutionize the high performance trading landscape “. The leader also promises to ” institutions and individuals better and more secure access to the latest cryptocurrency investment strategies. ”