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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.
Por Jamie Crawley
Bullish, the crypto exchange subsidiary of Block.one backed by Peter Thiel, Galaxy Digital and others, is to begin a seven-week pilot program.
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- 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.
Read more: The Bear Case for Bullish Is Spelled E-O-S
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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- The bear case sees bitcoin falling to $78,500 amid a global recession, while the bull case predicts a rise to $189,000 due to increased investor demand.
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