Cryptocurrency exchange Bullish has scrapped its plan to go public through a merge with a special-purpose acquisition company Far Peak Acquisition Corp.
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The exchange wrote in a blog post that the both companies have "mutually agreed to terminate their proposed business combination." Bullish CEO, Brendan Blumer, declined to specify what was the reason behind the termination, but acknowledged that the company's "quest to become a public company is taking longer than expected."
Far Peak CEO, Thomas Farley, said that the company is "disappointed" that it was unable to present the Bullish transaction to its shareholders. Far Peak added it does not intend to seek a new merger partner and will close its business on March 7, 2023, or sooner.
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