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NYSE-Owner ICE Sold Coinbase Stake for $1.2B
The NYSE participated in Coinbase’s Series C $75 million funding round in January 2015.
By Ian Allison
Updated May 9, 2023, 3:18 a.m. Published Apr 30, 2021, 11:21 a.m.
Intercontinental Exchange Inc. (ICE), owner of the New York Stock Exchange, sold its 1.4% stake in newly listed Coinbase earlier this month for $1.2 billion.
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Minus tax, the sale of shares in the leading cryptocurrency exchange generated $900 million, ICE Chief Financial Officer Scott Hill said on a first-quarter earnings call Friday. The proceeds were used to pay down debt.
ICE's incoming CFO, Warren Gardiner, also on the call, said the company is ahead of schedule in paying down debt thanks to the sale of COIN stock in April.
“When you think about the Coinbase proceeds – that gives us some additional flexibility as we kind of move into the rest of the year,” Gardiner said.
Some early backers collected a lot of money from the direct listing of Coinbase on Nasdaq, which incidentally valued the San Francisco-based crypto exchange higher than ICE. The NYSE participated in Coinbase’s Series C $75 million funding round in January 2015, netting its parent company an extremely healthy return.
Meanwhile, ICE-owned cryptocurrency exchange Bakkt is close to going public, too, around the end of this quarter via a blank check company, which Hill alluded to on the call.
“We expect that Bakkt's merger with Victory Park Spac will be completed toward the end of this quarter. We expect Q2 adjusted operating expenses to be in the range of $742 million to $752 million, including approximately $35 million of additional expense related to Bakkt,” Hill said.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Ano ang dapat malaman:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
Ano ang dapat malaman:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
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