[ad_1]
Blockchain software company Block.one has announced plans to launch a cryptocurrency exchange subsidiary.
According to a freed The platform called “Bull Market Global” released on Tuesday will run on the EOS blockchain.
As part of the announcement, EOSIO developers revealed that they have raised up to $10 billion in funding for cryptocurrency exchanges. This sum includes US$300 million in investor funds provided by Peter Thiel, Mike Novogratz and others, as well as hedge fund managers Alan Howard and Louis Bacon.
According to reports, the remaining funds came from Block.one’s cryptocurrency holdings, including 164,000 Bitcoin (Bitcoin) (Valued at approximately US$9 billion based on current market value) and 20 million EOS. According to reports, EOSIO developers also raised $100 million in cash for Bullish Global.
In January, Cointelegraph reported that Block.one’s Bitcoin holdings Approximately 140,000 BTC. Commenting on the planned cryptocurrency exchange, Block.one CEO Brendan Blumer said:
“The bullish exchange will use blockchain technology and new market architecture to transparently automate expensive third-party functions and turn them into income-generating portfolio management tools, thereby providing institutions and individuals with better and more secure Access channels to completely change the high-performance trading landscape. The latest cryptocurrency investment strategy.”
The company revealed that Bullish Global will combine centralized and decentralized crypto exchange architecture and operational functions. Block.one also stated that the planned exchange will act as an independent entity.
In addition to providing automated market-making services, the bullish exchange will also provide users with lending markets and portfolio management tools.
Mike Novogratz of Galaxy Digital also commented on the announcement and predicted that bullish capital will take root based on its sheer size and scale.
[ad_2]
Source link
