Coinspeaker
Peter Thiel-backed Crypto Exchange Bullish Calls of SPAC Deal with Far Peak
The Peter Thiel-backed crypto exchange, Bullish, has terminated the SPAC deal meant to take the company public. In a statement issued yesterday, Bullish explained that it reached a mutual agreement with Far Peak Acquisition to call off the SPAC deal. According to the crypto exchange, the process of becoming a public company was taking longer than expected. As a result, time ran out on the deal.
Commenting on the SPAC termination, Bullish Chairman and Chief Executive Officer Brendan Blumer explained:
“Our quest to become a public company is taking longer than expected, but we respect the SEC’s ongoing work to lay new digital asset frameworks and clarify industry-specific disclosure and accounting complexities.”
Blumer also said that Bullish would take the positives from the failed SPAC deal. The way he sees it, the exchange could build on said positives for future optimum service delivery.
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