Bullish has postponed its backdoor listing on the New York Stock Exchange (NYSE) through a planned special purpose acquisition company (SPAC) deal with Far Peak Acquisition Corp., as the merger still waits for approval from the U.S. Securities and Exchange Commission. 

See related article: Crypto exchange Bullish announces soft launch

Fast facts

  • Bullish, operator of digital assets service provider Bullish exchange, announced last July that it had entered a business combination agreement with Far Peak to become publicly traded on the NYSE. 
  • Far Peak chairman Thomas Farley, former president of the NYSE, is expected to lead the company after the US$9 billion merger. 
  • A growing number of major crypto firms have delayed SPAC listings recently, including USDC stablecoin issuer Circle and Israeli crypto and multi-asset trading platform eToro. 
  • Since launching the exchange for institutional traders in licensed jurisdictions last November, historic trading volume on Bullish has crossed US$14 billion while its annualized monthly trading revenue tallied US$97 million in February. 

See related article: Circle’s growth outpaces Tether as it doubles valuation