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Cayman Islands-based Exchange Bullish.com Cuts Staff By Nearly 7%
Summary: According to a report by The Block, Cayman Islands-based Institutional Exchange Bullish.com ironically makes a bearish play as they fire just under 30 employees, about 7%, of their total 390. They are now another among the multitudes of players to announce job cuts, including Coinbase, Gemini, Crypto.com, and Blockfi. Bullish was launched last year as ...
According to a report by The Block, Cayman Islands-based Institutional Exchange Bullish.com ironically makes a bearish play as they fire just under 30 employees, about 7%, of their total 390. They are now another among the multitudes of players to announce job cuts, including Coinbase, Gemini, Crypto.com, and Blockfi.
Bullish was launched last year as a subsidiary of Block.one, the software company behind the EOSIO blockchain protocol. The initial 10 Billion of funding for Bullish was raised by Block.one as well as Thiel Capital, Alan Howard, Galaxy Digital, and Nomura.
In opposition to the announcement, their website shows 28 open positions in multiple offices worldwide, with the latest published today, one day after the job cut announcement.
In 2021, Bullish announced they plan to go public via a deal with Far Peak Acquisition Corporation via a SPAC. That deal has yet to come to fruition, as last week, Bullish.com decided to extend the termination date from this Friday to December 31st to give them more time. This is the second extension they have filed, with the previous termination date scheduled last May 9th.
If the deal closes, Bullish will become listed on the New York Stock Exchange, and according to a Bullish announcement, they expect the deal to close by the end of this quarter.
Author: Garrett Meifer
Tags: Bullish.com,Job cuts,Peter Thiel
Link: Cayman Islands-based Exchange Bullish.com Cuts Staff By Nearly 7% [Copy]
