Bullish changed its mind about entering the stock market

Bullish withdrew from a deal with Far Peak Acquisition for $ 9 billion The company explained this decision by the policy of SECFar Peak Acquisition will be liquidated in March next yearYesterday, December 22, the Bullish cryptocurrency exchange announced the cancellation of the SPAC deal with Far Peak Acquisition. The agreement for $9 billion would allow the company to enter the New York Stock Exchange. This is reported by the Reuters portal, citing a press release from the exchange.. It reads: “Unfortunately, the drive to make Bullish public has taken longer than expected.. However, we respect the work of the SEC in overseeing the digital asset market and establishing a framework for disclosure and audit.” As for Far Peak Acquisition, the company will be liquidated on March 7 “or sooner.”. The company is not going to look for another partner for the merger. Recall that for the first time they started talking about this deal in the summer of 2021. If it took place, Far Peak Acquisition CEO Tom Farley would lead both companies. The Bullish exchange itself has been operating on the market since May 2021. The project has close ties with Block.one. It is noteworthy that initially many investors did not take the site seriously due to poor positioning. What is a SPAC deal? This is a merger of two companies, in which a larger firm goes public. Often, its partner is the so-called “dummy”, the only advantage of which is access to the stock market. Such transactions are by no means rare.