Intercontinental Exchange sells Coinbase stake for $1.2 billion
Cointelegraph
Published Apr 30, 2021 03:41AM ET
Updated May 01, 2021 05:40AM ET
Intercontinental Exchange (NYSE:ICE), the operator of the New York Stock Exchange and the owner of Bakkt digital asset platform, has sold its 1.4% stake in the newly Nasdaq-listed cryptocurrency firm Coinbase.
Announcing the news Thursday on a financial-results call for the first quarter of 2021, ICE chief financial officer Scott Hill said that the company sold its Coinbase stake for $1.2 billion. The executive noted that the sale generated approximately $900 million net after taxes.
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Written By: Cointelegraph
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