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Block.one secures funding for $10B EOS-based crypto exchange platform

May 11, 2021. Summarized by summa-bot.

Compression ratio: 44.6%. 1 min read.

Block.one and a host of investors have raised $10 billion to establish an EOS-based crypto exchange platform dubbed Bullish Global.

Blockchain software firm Block. one has announced plans to launch a cryptocurrency exchange subsidiary.

As part of the announcement, the EOSIO developer revealed that it had raised capital to the tune of $10 billion for the crypto exchange.

The remaining capital sum reportedly came from Block. one’s crypto holdings including 164,000 Bitcoin (BTC) — worth about $9 billion at the current market value — and 20 million EOS.

Commenting on the planned crypto exchange, Block. one CEO Brendan Blumer said:

“The Bullish exchange will leverage blockchain technology and a new market architecture to revolutionize the high-performance trading landscape 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. ”

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