Buying assets for Bakkt at a discounted price, ICE heads bluntly enjoy the cryptocurrency winter

The head of the Intercontinental Exchange (ICE) said on Thursday that the price of the cryptocurrency (compared to the previous two years) fell at the right time because the exchange operator was able to use its "discount price" as its cryptocurrency trading platform subsidiary Bakkt. Purchase assets.

Crypto

After the release of the first quarter earnings report, ICE CEO Jeffrey Sprecher held a conference call with the analyst, saying:

The cryptocurrency industry has entered the winter of the industry, which is really helpful.

This puts a little less pressure on (Bakkt) on-line arrangements.

Bakkt's preparations have been going on for two years, and ICE, which owns the New York Stock Exchange (NYSE), has long announced plans to set up the new company. However, Bakkt faces regulatory delays and has yet to determine the launch date. Bakkt's target customer is an institutional investor and is related to the physical bitcoin futures contract that ICE intends to launch on the US Futures Exchange.

At the end of 2017, bitcoin prices soared to nearly $20,000, sparking interest in Bitcoin and other cryptocurrencies, and a number of new companies focused on cryptocurrencies also rose. But last year, bitcoin prices plunged by three-quarters and entered the "winter", and institutional investors were basically in trouble.

Sprecher said that during this period of calm, the company has been recruiting talent and shaping Bakkt through acquisitions.

We have actually investigated a number of different companies and acquired one of them earlier this week.

ICE said on Monday that it has acquired cryptocurrency company Digital Asset Custody, and the specific transaction amount has not been disclosed.

It can be seen that despite the poor market performance, Sprecher is still very optimistic about the future of virtual currency. He said in November last year:

The answer is yes (the cryptocurrency will continue to exist)… Bitcoin seems to have lived in the swamp and survived. You can say that there are thousands of tokens that beat Bitcoin, but Bitcoin continues to survive, prosper and attract attention.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Forbes: What challenges will cryptocurrency regulators face?

According to a recent survey by Coinfirm, only 14% of the world's 216 cryptocurrency exchanges have regulatory a...

Blockchain

Circle stripped Poloniex, its valuation plummeted 80%

Circle is a world-renowned blockchain startup with investors including Goldman Sachs, IDG Capital, Bitcoin and hedge ...

Policy

BlockFi Emerges from Bankruptcy, Ready to Pay Back Creditors and Recover Assets

In November, popular crypto lending platform BlockFi made headlines for their bankruptcy filing caused by the FTX con...

Market

FTX Latest Debt and Asset Summary How much money is owed and how much debt can be repaid?

Wu said the author | Cat Brother this issue editor | According to the latest court documents on September 10th, as of...

Blockchain

6 pictures tell you about the development status of the Asian cryptocurrency market

Author: cryptanalysis CoinGecko company co-founder Bobby Ong translation: block rhythm BlockBeats-HQ Recently, at the...

Opinion

Unveiling SBF's Defense Draft of up to 250 pages I did what I believed was right.

In the draft, SBF traced his development history, from his childhood in Palo Alto to the penthouse apartment he purch...