SoftBank to invest $75M in Peter Thiel-backed crypto exchange - Bloomberg

Stephanie Keith/Getty Images News Softbank Group's (SFTBY) SB Northstar unit will invest $75M in Bullish, a crypto exchange that hasn't yet launched, as it prepares to go public, Bloomberg reports, citing people familiar with the matter. Recall that Bullish agreed earlier this month to to public by merging with Far Peak Acquisition Corp. ([[FPAC]] -0.1%), a SPAC headed by ex-New York Stock Exchange President Thomas Farley that values Bullish at some $9B. SB Northstar, the asset management arm of Masayoshi Son's SoftBank, agreed to purchase 7.5M shares of Bullish at $10/share when it combines with Far Peak, according to an SEC filing submitted on July 9. In addition, it will acquire 3M warrants to purchase shares of Far Peak. Son lost $130M on a bitcoin bet he sold back in 2018. Despite that unsuccessful trade, he's once again warming up to crypto as he has invested $200M in Mercado Bitcoin, a Brazil-based digital assets