This digital asset group has announced its merger with Far Peak Acquisition Corp which is a blank cheque company led by Tom Farley, former president of the NYSE, with the plans of taking the newly-created crypto exchange public through a SPAC (special purpose acquisition company) deal. This deal values Bullish at an astounding $9 billion, which is largely comprised of the $692 million in cash held at Far Peak and investments from various investors, as well as assets and investments from Block.one, the blockchain software developer and parent company of Bullish Global.
Coinbase About to Make its Public Debut on Wall Street
Tomorrow, on April 14, 2021, the US-based crypto exchange Coinbase will be going public with its much anticipated IPO. The crypto market is preparing anxiously for this event as the Bitcoin price has reached nearly $62,000 over the last week and the total cryptocurrency market capitalization has exceeded $2 trillion. The company has been showing incredible results throughout the first quarter of 2021 with an estimated profit of $730 million to $800 million. This shows double their profits for the entire 2020 which was $322 million in a total revenue of %193 billion.