Bullish is a regulated, institutional-grade cryptocurrency exchange blending CeFi, DeFi, and traditional finance principles to offer secure, capital-efficient trading in digital assets. Launched in 2021 by Block.one and led by former NYSE president Tom Farley, it provides spot, margin, and derivatives trading through a hybrid CLOB + AMM order book model. Bullish maintains full-reserve, daily reconciliations, and independent audits, while ensuring compliance via GFSC licensing.