A proposed cryptocurrency exchange has secured $9.8 billion in seed funding. It is one of the highest in the history of blockchain industry. Block.one, which is a blockchain-focussed software development company is coming up with a new cryptocurrency exchange – Bullish.
According to Bloomberg, Bullish Global, has already secured about $10billion in funding with 164,000 Bitcoins valued at around $9.7 billion, $100 million in cash and 20 million EOS tokens. According to the latest from Block.one, it has secured additional $300 million in a subsequent funding round.
The new exchange will capitalize on the popular decentralized architecture of DeFi. It seems to have drawn inspiration from the world’s leading cryptocurrency exchange Coinbase after it got a green signal from the SEC to go public earlier this year.
Block.one is also known to have successfully completed the world’s biggest ICO raising $4 billion back in 2018. The majority of the fund was used to develop the EOS blockchain. Now the team is launching a Defi crypto exchange.
Commenting on the plans Block.one Chief Executive Officer Brendan Blumer said: “The exchange is deemed to offer institutions and individuals better and safer access to the latest cryptocurrency investment strategies.”
The year 2021 has seen a growing investor confidence in crypto-related projects. Last month Blockchain.com, a Uk-based crypto startup also secured one funding from Bailie Gifford.