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I just saw an old news article. It turns out that Block.One’s project Bullish was originally intended to build a cryptocurrency exchange, and it even planned to go public via a SPAC. Speaking of which, Block.One really has had activity in this area, backed by asset groups such as Cryptology, with substantial holdings.
What’s interesting is that Block.One also partnered with Northern Data, a company that does Bitcoin mining hosting. It feels like Block.One wants to lay out plans across trading and mining, but all of this was a 2021 plan—so I don’t know what’s going on now. SPAC financing was quite hot at the time.