Peter Thiel backed EOS based crypto exchange planning $9bn Wall Street debut

crypto, Peter Thiel backed EOS based crypto exchange planning $9bn Wall Street debut
Bullish crypto exchange, Image by Alexander Naumann from Pixabay 
  • Crypto exchange Bullish is in talks to go public this year, with a deal that values it at approximately $9 billion
  • Prominent backers include PayPal co-founder Peter Thiel, Galaxy Digital boss Mike Novogratz, and Nomura
  • Bullish’s Wall Street debut will happen via a SPAC merger with Tom Marley led Far Peak Acquisition Corp
  • The idea is to shake up decentralized exchange (DEX) trading and provide US listing opportunities for projects

JAIPUR ( – Things look pretty ‘bullish’ for the crypto exchange ‘Bullish.’

The platform is the brainchild of, the firm behind the EOS blockchain. launched a subsidiary company Bullish Global in May this year. The purpose – architect and position Bullish as a new generation decentralized crypto exchange. EOS, of course, powers it.

PayPal co-founder Peter Thiel, Galaxy Digital’s Michael Novogratz, Christian Angermayer are on the illustrious list of folks backing Bullish. It also includes pro-crypto billionaire bigshots Alan Howard and Louis Bacon, Hong Kong-based businessman Richard Li, and Nomura. While commenting on the deal, Peter Thiel said:

“Bullish’s 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,” press release

According to a report by Financial Times, Bullish’s launch will open the gates to blockchain projects looking to tap listing opportunities in US equity markets.

A $9 Billion SPAC Merger

A SPAC (Special Purpose Acquisition Company) deal will give shape to Bullish’s public plans. Reports say that parent company Bullish Global will merge with ex-NYSE President Thomas Marley-led Far Peak Acquisition Corp. Mr. Marley is a wholehearted supporter of Bitcoin and hopeful about BTC mining going green.

Also Read: Why Bitcoin is headed for a $10 trillion market cap within the next 5 years?

As per the official definition, a special purpose acquisition company (SPAC) has no commercial operations. Its only purpose is to raise capital through an initial public offering (IPO) to acquire an existing company. That’s why SPACs have “blank check companies” as their alternate names.

Far Peak Acquisition Corp. is the SPAC here with an investment share worth $692 million. The capitalization process involved the initial injection of $100 million, 164,000 BTC, and 20 million EOS by Plus, a $300 million strategic investment round led by Peter Thiel and the gang.

Tom Marley will take up the role of chief executive officer (CEO) at Bullish. CEO, Brendan Blumer, will be the chair of Bullish. 

Revolutionizing Distributed Crypto Trading

As per the official statement from, Bullish’s USP will be a combination of “performance, user privacy, and compliance” that centralized crypto exchanges offer and “the vertically integrated user benefits of decentralized finance (DeFi) market architecture.”

Also Read: Bitwise Launches New Institutional DeFi Index Fund

With plans to rejig decentralized crypto trading, Bullish will leverage tools deployed by traditional finance players to infuse crypto markets with “deeper liquidity.” Some of these tools include new automated market making, lending, and professional portfolio management tools.

Bullish will utilize EOS to guarantee the security of transactions made by users. “Bullish will utilize EOSIO and the EOS Public Blockchain to produce a cryptographically validated, provable, and immutable audit trail of all transactions processed on the Bullish platform. In doing so, it will be the first to bring externally verifiable state integrity to a high-performance trading and asset management platform.”, read the statement.

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