COIN - Bullish aimed at making institutional crypto investors feel safe - incoming chairman Brendan Blumer

da-kuk/E+ via Getty Images Brendan Blumer, founder of Block.one and the incoming chairman of prototype crypto exchange Bullish, said Friday that a SPAC deal to take Bullish public will allow the company to create a cryptocurrency exchange that will make big institutional investors feel safe. Speaking to CNBC, Blumer said the firm also considered issuing a token as a way to raise capital, but chose traditional financial markets because it granted them access to a broader group of investors. Blumer's comments followed news earlier in the day that Bullish had reached a merger agreement with SPAC Far Peak Acquisition Corp. (FPAC). The deal will allow Bullish to trade publicly and values the firm at $9B. Far Peak is headed by former NYSE president Tom Farley, who will become the new CEO of Bullish. Also interviewed by CNBC, Farley noted that his experience running a stock exchange will give him an

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Bullish aimed at making institutional crypto investors feel safe - incoming chairman Brendan Blumer