<p>SB Northstar LP, a business unit of SoftBank, is set to invest in the operator of a yet-to-be-launched crypto exchange as well as the special-purpose acquisition vehicle through which it plans to go public.</p> <p>Last week, Bullish <a href="https://www.theblockcrypto.com/linked/110950/former-nyse-president-to-take-crypto-exchange-bullish-public-via-spac" target="_blank" rel="noopener">unveiled</a> its SPAC plans via a public filing, which could see the firm valued at as much as $9 billion. According to a new report from <a href="https://www.bloomberg.com/news/articles/2021-07-16/softbank-unit-to-invest-in-thiel-backed-crypto-exchange-bullish?utm_medium=social&amp;utm_source=twitter&amp;utm_content=crypto&amp;utm_campaign=socialflow-organic" target="_blank" rel="noopener">Bloomberg</a>, the public documents <a href="https://www.sec.gov/Archives/edgar/data/1829426/000119312521211360/d198478dex101.htm" target="_blank" rel="noopener">highlight</a> how SB Northstar will buy 7.5 million Bullish shares when the SPAC becomes effective. The documents also indicate that SB Northstar is buying 3 million Private Placement Warrants in connection with the SPAC, dubbed Far Peak Acquisition Corp.</p> <p>As previously reported, the SPAC deal is set to feature $300 million in committed investment from EFM Asset Management as well as BlackRock and Galaxy Digital. Former New York Stock Exchange president <a href="https://www.theblockcrypto.com/post/111284/former-nyse-president-tom-farley-bullish-ceo" target="_blank" rel="noopener">Tom Farley</a> will serve as Bullish's chief executive officer. </p> <p>The SoftBank angle of the deal reflects the institutional interest in Bullish, which is aiming to capture design approaches from both the traditional exchange space as well as the world of decentralized finance or DeFi, according to an investor pitch deck released at the time. </p> <p>“Bullish is really tipping our hat to the successful use of liquidity pools and automated market makers, and it's combining them with a CeFi market structure," Farley said during a recent appearance on The Scoop podcast.</p>