Benzinga · Jul 9, 2021
Peter Thiel-Backed Bullish Lands SPAC Deal, Owns 164,000 Bitcoin: What Investors Should Know About This Cryptocurrency Exchange
A digital asset company expected to launch a new cryptocurrency exchange announced a SPAC merger Friday morning. The SPAC Deal: Bullish announced it will merge with Far Peak Acquisition Corp (NYSE: FPAC) in a deal valuing the company at a pro forma equity value of $9 billion. A rumor from Bloomberg listed the expected deal price at up to $12 billion but said valuation was a key point due to the declining value of Bitcoin (CRYPTO: BTC). Far Peak Acquisition is led by former New York Stock Exchange (NYSE) President Thomas Farley, who supported an investment by NYSE in Coinbase Global Inc (NASDAQ: COIN) in 2015 and has been bullish on Bitcoin for years. Farley will lead Bullish as the new CEO. Bullish is backed by Block.one which invested $400 million and has digital assets including 164,000 Bitcoin and 20 million ...

