The crypto exchange of Block.one, Bullish, plan to go public got terminated. Its $9 billion merger with a SPAC got terminated just after four months when courts rejected its $27.5 million settlement in a class action lawsuit. That alleged its EOS initial coin offering constituted an unregistered securities sale.
The Termination of Bullish’s Agreement
On Dec. 22, 2022, in its Press Releases, Bullish, gave the information that “Far Peak Acquisition Corporation (NYSE: FPAC), a special purpose acquisition company, and Bullish, a technology company that operates the regulated cryptocurrency trading platform Bullish exchange, announced today that they have mutually agreed to terminate their proposed business combination.”
According to the previous announcement “on July 8, 2021, Far Peak and Bullish entered into a Business Combination Agreement (the “Agreement”) providing for a business combination in which Bullish would become publicly traded on the New York Stock Exchange (NYSE)
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