Thomas W. Farley is the Chief Executive Officer (CEO) of the digital asset exchange Bullish. He is also known for his previous role as the President of the New York Stock Exchange (NYSE) Group from 2014 to 2018.

Early Life

Thomas W. Farley was born on December 10, 1975, in New York City, New York. He grew up in Bowie, Maryland, and attended Gonzaga College High School in Washington, D.C., graduating in 1993. During his youth, he was a collegiate baseball player. ^{[1] [2]}

Education

Farley attended Georgetown University, where he earned a Bachelor of Arts degree in Government in 1997. He also holds the professional designation of Chartered Financial Analyst (CFA), which he earned from the CFA Institute. ^{[1] [3]}

Career

Early Career and SunGard

Farley began his career in finance with positions in investment banking at Montgomery Securities and in private equity at Gryphon Investors. He later joined SunGard Kiodex, a company specializing in risk management technology for the derivatives markets. At SunGard Kiodex, he held several executive roles, including Chief Financial Officer (CFO) and Chief Operating Officer (COO), before being promoted to President of the company, which served as a basis for later work with cryptocurrencies. ^{[4] [5]}

In January 2007, Farley joined Intercontinental Exchange (ICE) as President and COO of ICE Futures U.S., the entity formerly known as the New York Board of Trade (NYBOT). He was later promoted to Senior Vice President of Financial Markets at ICE, where he was responsible for overseeing the development of various businesses, strategic acquisitions, and exchange consolidations. ^{[3] [6]}

Following ICE's acquisition of NYSE Euronext, Farley transitioned to the New York Stock Exchange, becoming its Chief Operating Officer in November 2013. In May 2014, he was promoted to President of the NYSE Group, a position he held until May 2018. During his tenure as president, he led a significant strategic and operational transition for the exchange. Under his leadership, the NYSE reportedly tripled its profits, doubled its pre-acquisition operating margin, and reduced annual costs by approximately $550 million. He also oversaw the modernization of the NYSE's technology infrastructure. ^{[7] [8]}

While at the NYSE, Farley demonstrated an early interest in the emerging digital asset industry. In 2013, he met with Coinbase co-founder Fred Ehrsam and subsequently led a $10 million strategic investment into the then-nascent cryptocurrency startup on behalf of the NYSE. This investment provided the exchange with board-level information rights and early insights into the sector's development. ^{[9] [10]}

After departing from the NYSE in May 2018, Farley became involved in the special-purpose acquisition company (SPAC) market. He served as the CEO, President, and Chairman of Far Point Acquisition Corporation from May 2018 to December 2020. He led the company through its business combination with Global Blue Group Holding AG, a tourism and shopping tax refund company. Following the merger, Farley became the Chairman of Global Blue's board in August 2020. He also founded and led a second SPAC, Far Peak Acquisition Corporation, serving as its CEO and Chairman from December 2020 to February 2023. ^{[6] [4]}

Transition to Digital Assets and Bullish

In July 2021, it was announced that Far Peak Acquisition Corp. intended to merge with Bullish, a digital asset exchange subsidiary of the blockchain software company Block.one. The deal, which valued Bullish at approximately $9 billion, included a plan for Farley to become the CEO of the newly public company. The transaction included a $300 million private investment in public equity (PIPE) from investors such as BlackRock and Galaxy Digital. However, the planned SPAC merger was later rescinded, with the companies citing insufficient time to secure regulatory approvals. ^{[8] [1]}

Farley officially became the CEO of Bullish in May 2023. Under his leadership, Bullish pursued a traditional initial public offering (IPO). On August 13, 2025, Bullish went public on the New York Stock Exchange under the ticker symbol BLSH, becoming the first digital asset exchange to be listed on the NYSE. In a CNBC interview on the day of the IPO, Farley stated that the company planned to convert $1 billion of its IPO proceeds into stablecoins. ^{[11] [12]}

In November 2023, Farley led Bullish through its acquisition of CoinDesk, a digital asset-focused media, data, and events company, in an all-cash deal. Following the acquisition, Bullish announced that CoinDesk would operate as an independent subsidiary to maintain its journalistic independence. An editorial committee chaired by Matt Murray, former editor-in-chief of The Wall Street Journal, was established to oversee this separation. Farley stated that Bullish would "immediately inject capital into several of CoinDesk’s most exciting growth initiatives." ^[13]

Views on Digital Assets and Regulation

Farley has publicly expressed his belief in the potential of blockchain technology and decentralized finance (DeFi). He has described blockchain's transparent and immutable ledger as "a more efficient way of effecting financial transactions" that can disintermediate traditional financial middlemen. He is a vocal proponent of strong regulatory frameworks for the digital asset industry, arguing that institutional adoption depends on exchanges operating with robust compliance, transparency, and Know-Your-Customer (KYC) procedures. ^[10]

During a public controversy in August 2018 involving Elon Musk's tweet about securing funding to take Tesla private, Farley publicly called on the U.S. Securities and Exchange Commission (SEC) to demand proof of the funding to "inspire market confidence." ^[2]

He has shared his views on the financial markets as a frequent guest and co-host on CNBC's program Squawk Box. ^[14]

"We anticipate that the cryptocurrency exchanges that embrace regulation will lead the pack as digital assets mature into a mainstream asset class." ^[10]

"Digital assets are here to stay. The smartest engineering talent is going into digital assets; digital assets are solving very important problems. Anybody who tells you they know exactly how it's going to turn out is lying or delusional, but in general, you're going to see more and more interesting use cases, more and more dollars go into the space." ^[8]

Interviews

Discussion on Crypto Industry and Regulation #01

On November 21, 2023, Tom Farley participated in CNBC’s Squawk Box, where he addressed developments in the cryptocurrency sector, Bullish’s acquisition of CoinDesk, and the outlook for Bitcoin exchange-traded funds (ETFs).

Farley explained that the acquisition of CoinDesk, conducted through an all-cash transaction, was intended to strengthen Bullish’s position in the industry. He noted that CoinDesk would continue to operate with editorial independence while functioning under Bullish’s ownership.

He also commented on the challenges facing cryptocurrency exchanges, particularly regulatory scrutiny and investigations into noncompliance. Farley described Bullish’s strategy as emphasizing adherence to regulations, steady operational growth, and future plans that include the introduction of futures trading.

Regarding U.S. regulatory issues, Farley referred to the ongoing debate about the approval of spot Bitcoin ETFs and the Securities and Exchange Commission’s approach of classifying many digital assets as securities. He stated that the approval of a Bitcoin ETF could have a direct impact on institutional involvement in the market.

In addition, Farley addressed the consequences of exchange collapses, mentioning cases in which investors lost their savings, such as the failure of FTX. He underlined the importance of stronger compliance practices and creditor protection within the industry. ^[16]

Bullish Business Update #02

On March 8, 2022, Tom Farley appeared on the Bullish YouTube channel in a discussion with Brendan Blumer, chairman of Bullish, and David Bonanno, incoming CFO. During the conversation, Farley described the proposed merger between Bullish and Far Peak Acquisition Corporation, a company listed on the New York Stock Exchange.

Farley explained that the combination was designed to incorporate Far Peak’s leadership into Bullish, bringing together experience in regulated financial markets and approaches from digital asset exchange models. He outlined Bullish’s framework, which integrates centralized exchange structures with liquidity pools influenced by decentralized finance.

In his remarks, Farley referred to the platform’s early operational results, mentioning trading volumes of more than $10 billion within three months of launch, liquidity pools amounting to about $3 billion in assets, and revenue projections based on those activities. He also highlighted the company’s regulatory approval under Gibraltar’s Distributed Ledger Technology framework as part of its compliance efforts.

Looking ahead, Farley described areas Bullish intended to pursue, including the listing of additional tokens, entry into new markets, continued development of its trading infrastructure, and the possibility of mergers or acquisitions. He characterized liquidity depth across different market conditions as central to the company’s strategy for maintaining competitiveness in the cryptocurrency exchange sector. ^[17]