EOSIO blockchain platform

Richard Li Invests in New EOS-integrated Crypto Exchange

EOSIO blockchain platform

Block.one, the software firm behind the EOSIO blockchain platform, is launching a new cryptocurrency exchange integrated with the blockchain network’s token EOS. More surprisingly, investors of the new exchange, Bullish Global, include Hong Kong tycoon Richard Li, chairman of Hong Kong’s Pacific Century Group.

Block.one’s existing backers such as American tech mogul Peter Thiel, billionaire Alan Howard, Louis Bacon of Moore Capital, also participated in the funding round of the new exchange subsidiary. Other prominent investors participating in the funding round include Michael Novogratz’s Galaxy Digital, Christian Angermayer of Germany-based Apeiron Investment Group, and Japanese brokerage giant Nomura Holdings.

Thiel, Howard, Li, and Angermayer have also joined Bullish Global as senior advisors.

Bullish Global will offer institutional and retail investors market making, lending and portfolio management services without use of intermediaries like banks. “The exchange is deemed to offer institutions and individuals better and safer access to the latest cryptocurrency investment strategies,” Block.one CEO Brendan Blumer said.

 

Richard Li Joins Bullish As Senior Advisor

Block.one has raised nearly $10 billion in funding for Bullish Global. The capital includes 164,000 Bitcoins valued at around $9.7 billion, $100 million in cash and 20 million EOS tokens, which power Block.one transactions. The above backers collectively participated in a $300 million round for Bullish Global.

With a 7-day gain of 114%, EOS tokens are trading at $13.66, up 52.1% over the previous 24 hours. EOS tokens now have a total market value of $13.23 billion, making it the 17th largest crypto by market capitalization. 

Block.one was founded by CEO Brendan Blumer and former CTO Daniel Larimer, who wrote the EOS white paper. The blockchain project, one of the original “Ethereum killers,” ran the world’s biggest initial coin offering (ICO) that netted $4.2 billion in 2018.

Block.one said Bullish will leverage existing tools from the EOS network and the EOSIO platform maintained by Block.one, and will provide benefits of both centralized and decentralized exchanges.

Additionally, Palantir, US-listed intelligence technology company, co-founded by Peter Thiel, announced it may add Bitcoin to its balance sheet. Palantir now accepts Bitcoin as a form of payment from customers. And that it would also consider holding other cryptocurrencies on its balance sheet.

PayPal and Palantir co-founder Peter Thiel, a self-proclaimed “pro-crypto, pro-Bitcoin maximalist,” backs a Bitcoin mining facility in Texas and recently warned that Bitcoin threatens the U.S. dollar.

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