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Intercontinental Exchange sells Coinbase stake for $1.2 billion By Cointelegraph

Intercontinental Exchange sells Coinbase stake for $1.2 billion

Intercontinental Exchange (NYSE:), 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.

COIN share all-time price chart. Source: TradingView