EOS surges by 15% after bullish’s announcement to list on NYSC

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Jul 10, 2021
  • Bullish Global has announced plans to go public on NYSC via a PAC merger.
  • The crypto exchange draws support from Block.one and other top influencers.
  • The merger announcement has caused EOS to surge by 15% in just 24 hours.

More crypto firms are announcing their plans to go public and Bullish Global has joined the train. Bullish Global, which operates under the blockchain software Block.one, stated that it wants to go public on the New York Stock Exchange (NYSC). The announcement saw EOS/USD surging by 15% within the past 24 hours, fast approaching the $5 resistance.

In a press release, the company said it will partner with Far Peak Acquisition Corporation, a special purpose acquisition company (SPAC) as part of the plan to go public.

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The collaboration between Far Peak and Bullish shows a pro former equity of $9 billion, although there may still be adjustments on the crypto asset valuation.

The discussion for the merger started last month when it was speculated that the merger could increase Bullish’s valuation to $12 billion.

Drawing support from top market influencers

The recently launched crypto exchange is not only supported by Black.one. It also has the strong backing of some of the world’s top business leaders in both the crypto space and the financial world. The list includes Galaxy Digital, Hong Kong billionaire Richard Li, U.S. hedge fund manager Louis Bacon, fund manager Alan Howard, as well as billionaire entrepreneur Peter Thiel. The exchange announced,

Bullish will use @EOSIO to securely execute and immutably record all financial movements on the platform.

The company wants more customer involvement

Many have viewed it as the first exchange to provide the best form of both centralized and decentralized space. The former provides comprehensive development, efficiency, and provides compliance. On the other hand, its decentralization offers new innovative products like DeFi.

Brendan Blumer, Chief Executive Officer of Block.one, commented on the development. He stated that Bullish’s plan to go public will enable the customers to become active participants and partakers in the company’s goals and aspirations. It will enable the customers to hold a piece of the company without the jurisdictional limitations or regulatory uncertainties of a profit-sharing token issuance.

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