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Thiel-Backed Blockchain Company Launches Decentralized Crypto Exchange With $10B Of Funding

May 11, 2021 7:34 pm
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Thiel-Backed Blockchain Company Launches Decentralized Crypto Exchange With $10B Of Funding

Block. one — the firm that developed the software behind major cryptocurrency EOS (CRYPTO: EOS) — launched a decentralized cryptocurrency exchange (DEX) through its new dedicated subsidiary Bullish Global.

What Happened: According to an announcement shared with Benzinga on Tuesday, the development of Bullish Global has been capitalized with more than US$10 billion in cash and digital assets by investors, including Peter Thiel (Thiel Capital and Founders Fund), Alan Howard, Louis Bacon, Richard Li, Christian Angermayer, Mike Novogratz.

The announcement comes with the close of the latest $300 million strategic funding round.

Peter Thiel, Alan Howard, Richard Li, and Christian Angermayer will also serve as senior advisors to the exchange.

Bullish Global will offer automated market making, lending, and portfolio management tools while also providing the benefits of decentralized finance (DeFi) market architecture, such as heightened user privacy. 

“The Bullish exchange will leverage blockchain technology and a new market architecture to revolutionize the high-performance trading landscape by transparently automating expensive third-party functions and turning them into yield-generating portfolio management tools to offer institutions and individuals better and safer access to the latest cryptocurrency investment strategies," Block. one CEO, Brendan Blumer, said.

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