Thiel-Block.one launches cryptocurrency exchange venture with $10B in funding

Software company Block.one launches Bullish Global, a new blockchain-based cryptocurrency exchange that's backed with more than $10B in cash and digital assets.The new subsidiary will operate as an independent entity from its parent, the company behind EOSIO open-source software. Bullish Global plans to release the exchange in 2021.The exchange will use blockchain technology and a new market architecture by "transparently automating expensive third-party functions and turning them into yield-generating portfolio management tools to offer institutions and individuals better and safer access to the latest cryptocurrency investment strategies," said Block.one CEO Brendan Bloomer.Bullish Global is capitalized with more than $10B in cash and digital assets after an initial injection by Block.one of $100M in cash, 164,000 bitcoins, and 20M EOS.In addition, Bullish raised an additional $300M in financing from a number of investors including Peter Thiel's Thiel Capital and Founders Fund, Mike Novogratz's Galaxy Digital, investment bank Nomura, Alan Howard, Louis Bacon, Richard