Block.one-backed Bitcoin exchange to raise $75 million from SoftBank

SB Northstar, the investment arm of Tokyo-based SoftBank, will buy 7.5 million shares at $10 each of the cryptocurrency exchange Bullish, according to заявлению filed with the U.S. Securities and Exchange Commission.

The trading platform will become a public company through a reverse merger with the SPAC Far Peak Acquisition. The combined firm is valued at approximately $9 billion.

Bullish Global is a subsidiary of Block.one, the company behind the EOS project. In May 2021 the latter invested $10 billion to launch a Bitcoin exchange. The platform is slated to launch in 2021.

Far Peak Acquisition shares trade on the New York Stock Exchange (NYSE). The SPAC is owned by former NYSE president Tom Farley. In 2015, under his leadership, the NYSE invested in Coinbase.

In June, Block.one resolved a dispute with investors. The court closed the case on terms of a $27.5 million payment by the defendant.

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