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Intercontinental Exchange, Inc will be making a strategic investment in tZERO
The terms of investment remain undisclosed, but ICE will become a minority shareholder in the company
With this investment, ICE’s CSO will join tZERO in the capacity of its next CEO and member of the Board
In an announcement today, Intercontinental Exchange, Inc (ICE), owner of the New York Stock Exchange and many other global exchanges, invested in tZERO. However, ICE wasn’t the only investor, as other companies also participated in the fundraising round.
ICE X tZERO
The strategic investment in the blockchain and digital asset liquidity provider company has allowed ICE to become a minority shareholder. However, neither plans have been specified pre or post this investment by either companies.
However, ICE clarified that the investment has no impact on the company’s capital return plans.
The only changes that ICE specified were that their current Chief Strategy Officer (CSO) and member of the management team, David Goone, will be joining tZERO as their new Chief Executive Officer (CEO).
Goone will also be a member of the Board of Directors in the latter company.
Upon this transition, the Founder, Chairman, and CEO of ICE, Jeff Sprecher, stated:
“David’s leadership and his mastery of trading, data, and clearing technology will be a big asset as tZERO begins its next chapter leading the growth and adoption of next-generation market infrastructure.”
Apart from being a CSO at ICE, David Goone has also been a board member at ICE’s other subsidiaries as well as a representative for the company at Depository Trust Clearing Corporation (DTCC), Options Clearing Corporation (OCC), and the National Futures Association (NFA).
Furthermore, apart from ICE, many other companies were also a part of the investment round, including Overstock.com, Inc., Medici Ventures, L.P., and more.
While ICE may not jump headfirst into crypto with this kind of investment, one of its biggest exchanges is definitely “guns akimbo” when it comes to crypto.
The New York Stock Exchange recently filed multiple trademark applications targeted at NFTs and the Metaverse.
The applications also hinted towards the stock exchange’s attempt at establishing a platform for buying, selling, and trading cryptocurrencies, NFTs, and more.
Although more details on the same are yet to come out, that hope is reinforced with this move from ICE.
This article was originally posted on FX Empire