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Bullish postpones a $9 billion SPAC merger while waiting for SEC permission

Bullish has postponed its intended backdoor listing on the New York Stock Exchange (NYSE). That’s, through a proposed special purpose acquisition company (SPAC) agreement. Of course, with Far Peak Acquisition Corp., as the merger is still awaiting SEC permission.

Last July, Bullish, the operator of the Bullish exchange, revealed that it had entered into a business combination agreement with Far Peak to become publicly traded on the NYSE.

After the US$9 billion acquisition, Far Peak chairman Thomas Farley. Who’s, a former president of the New York Stock Exchange, is likely to oversee the company.

SPAC listings have been postponed by a rising number of significant crypto businesses. That’s, including USDC stablecoin issuer Circle and Israeli crypto and multi-asset trading site eToro.

Bullish has had unprecedented trading volume of over US$14 billion since its introduction in November for institutional traders in licensed jurisdictions, with annualized monthly trading revenue of US$97 million in February.
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