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Peter Thiel-Backed Exchange Bullish Begins Pilot Program

The pilot will use simulated crypto assets and paper money to give invited investors a sample of Bullish's trading interface.

By Jamie Crawley
AccessTimeIconJul 27, 2021 at 9:28 a.m. UTC
Updated Sep 14, 2021 at 1:31 p.m. UTC
Brenden Blumer, co-founder of Block.one

Brenden Blumer, co-founder of Block.one

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Bullish, the crypto exchange subsidiary of Block.one backed by Peter Thiel, Galaxy Digital and others, is to begin a seven-week pilot program.

  • The pilot will use simulated crypto assets and paper money to give invited investors a sample of Bullish's trading interface, an announcement Tuesday said.
  • Bullish is offering $525,000 in cash prizes divided up between participants who compete in simulated crypto trading games.
  • The program starts today and will last until Sept. 13.
  • Bullish was unveiled in May with more than $10 billion backing in cash and digital assets and is set for a public listing by the end of the year with special purpose acquisition company Far Peak Acquisition.
  • It received a further $75 million earlier this month from SB Northstar, the investment arm of SoftBank.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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