May 15, 2021

Intercontinental Exchange sells its stake in Coinbase for $ 1.2 billion

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Intercontinental Exchange, owner of the New York Stock Exchange (NYSE) and cryptocurrency marketplace Bakkt, sold its 1.4% stake in Coinbase for $ 1.2 billion.

As a result of the transaction, the exchange received a net profit of $ 900 million. The company sold its stake almost immediately after Coinbase went public.

Coinbase shares listed on the Nasdaq are trading 22% less than their original price. At the time of writing, one share is selling for $ 298.

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According to the materials