Cryptocurrency exchange Bullish backed by Block.one — the company that developed the EOS.IO protocol — has announced its subsidiary has obtained a license from the Gibraltar Financial Services Commission (GFSC). Brendan Blumer, Chairman of Bullish, said in an announcement the license signals "that the Bullish exchange is a platform that institutional and retail users can trust."
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"We believe Gibraltar's commitment to a regulatory framework that fosters collaboration has spurred our industry forward and will enable wider adoption of digital assets," Blumer added.
Bullish obtains the license just a week after EOS Foundation CEO, Yves La Rose, said that the EOS cryptocurrency "as it stands is a failure." Rose also added that the blockchain's native cryptocurrency, EOS, has been "a terrible investment."
"At this point, it is the consensus of the majority of token holders that I speak to, inside and outside of EOS, that Block.one knowingly misrepresented their capabilities and this amounts to negligence and fraud," Rose said.
Rose also said the foundation plans to step up as it "can no longer rely" on Block.one. Bullish also pushed back the date for going public through a business combination with Far Peak Acquisition Corporation. Initially, the exchange said the transaction was expected to close by the end of 2021. However, according to the updated information from the announcement the merger is anticipated to close in the fourth quarter of 2021 or "the first quarter of 2022."
As iHodl earlier reported, the deal might value the company at approximately $9 billion. Bullish raised $300 million in PIPE financing by EFM Asset Management with participation from funds and accounts managed by BlackRock, Cryptology Asset Group, Galaxy Digital, and others.
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