Block.one invests $10 billion in crypto exchange
By MYBRANDBOOK
Block.one backed by Peter Thiel, Alan Howard and Louis Bacon, is launching a crypto exchange that seeks to combine attributes of traditional bourses with the benefits of decentralized finance. Bullish, as the exchange will be known, is being capitalized by Block.one with about $10 billion in digital assets and cash. That seeding for Bullish Global includes 164,000 Bitcoins valued at around $9.7 billion, $100 million in cash and 20 million EOS tokens, which power Block.one transactions. A funding round raised another $300 million, Block.one said in a statement Tuesday. The exchange is seeking to leverage existing blockchain technology with the decentralized architecture of DeFi that has grown in popularity for maximizing yield-generating strategies. The announcement follows Coinbase Global Inc.’s debut last month on the Nasdaq, which initially valued the largest U.S. crypto exchange at more than $100 billion. The price of EOS surged almost 50% in the wake of the announcement to around $12.72, according to CoinMarketCap.com data.
While some of the money has been used to build out the EOSblockchain - much of it was simply invested in assets such as government bonds. Additionally, EOS has recently seen declining developer interest - a yardstick for a project’s promise and health. Other prominent investors participating in the funding round include Hong Kong tycoon Richard Li, German entrepreneur and investor Christian Angermayer, Michael Novogratz’s Galaxy Digital, and Nomura Holdings. Bullish will offer institutional and retail investors market making, lending and portfolio management services without use of intermediaries like banks.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
SAMRIDDHI AUTOMATIONS PVT. LTD.
ALPHAMAX TECHNOLOGIES PVT. LTD.
STERLITE TECHNOLOGIES LTD.
BHARAT ELECTRONICS LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Puneet Chandok
Puneet Chandok is President, Microsoft India & South Asia and is respo...
Icons Of India : Bhavish Aggarwal
Indian entrepreneur Bhavish Aggarwal is the CEO of Ola, India’s larg...
ICONS OF INDIA : ROSHNI NADAR MALHOTRA
Roshni Nadar Malhotra is the Chairperson of HCLTech, a leading global ...
PARTNER SPEAKERS
PSU
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - AJAY BANGA, President - World Bank
Ajay Banga is an Indian-born American business executive who currently...
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
