Former NYSE President Helps Bitcoin Exchange Bullish Go Public

Bullish plans to go public in a reverse merger, backed by former New York Stock Exchange President Tom Farley.

Former New York Stock Exchange President Tom Farley’s, Far Peak Acquisition Corporation, today announced a deal to bring Bullish bitcoin exchange to the public, according to CNBC.

Tom Farley will be CEO of the exchange when that is complete and the transaction is expected to close by the end of the year. Farley was President of the NYSE for four years from 2014-2018.

Far Peak Acquisition Corporation will give Bullish approximately $ 600 million in revenue and receive an additional $ 300 million through a private investment in public equity (PIPE). The world’s largest asset manager Blackrock and Galaxy Digital are two of the companies participating in this PIPE.

In an interview with Squawk Box this morning, Farley said optimistically, “This is a great idea whose time has come,” a nod to the famous and iconic Victor Hugo quote from “No power in the world can stop an idea whose time has come”. . “Bitcoin is the biggest and most important idea in the world right now, and they are aiming to capture some of its success.

He also mentioned that one day, when all is said and done, the company will have a balance sheet of around $ 9 billion. The exchange aims to provide customers with “deep, predictable liquidity using technologies that enable private and institutional investors to generate returns on their digital assets,” according to its press release.

The Bitcoin space is heating up and more and more are realizing the potential of Bitcoin, how it can provide value to users, and how they can benefit from all of it. Farley then added, “Digital assets are here to stay. The brightest engineering talent gets into digital assets; Digital assets solve very important problems … You will see more and more interesting use cases, more and more dollars are flowing into this area. “

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.

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