SoftBank invests $7.5 million in Block.one’s Bullish exchange

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2021-07-17 06:01:06

SB Northstar, a subsidiary of SoftBank, has agreed to invest $7.5 million in Bullish, the exchange of Block.One, the parent company of EOS.

SoftBank invests $7.5 million in Block.one’s Bullish exchange

SB Northstar – a subsidiary of SoftBank – will buy 7.5 million USD Bullish shares as soon as the SPAC takes effect. In addition, SB Northstar also announced that it is purchasing 3 million Certificates of Private Placement from Far Peak Acquisition Corp (NYSE: FPAC), which will merge with Bullish in the upcoming sale.

As CHK reported, Block.One “pumped” $10 billion for a new EOS-based exchange, the EOS price immediately increased by 50%. An exchange called Bullish revealed its plans to open a public sale through the SPAC deal. This deal raises Bullish’s valuation to 9 billion USD.

Softbank’s stance on this investment agreement reflects the organization’s interest in Bullish. This also aims to capture the approaches of both traditional trading as well as decentralized finance (DeFi).

Before that, SoftBank also invested in quite a few companies related to the cryptocurrency market. For example, SoftBank invested $ 200 million in the Mercado Bitcoin exchange or introduced a research team on Blockchain identification.

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