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Intercontinental Exchange s Cryptocurrency Venture to Go Public Through a SPAC

Intercontinental Exchange’s Cryptocurrency Venture to Go Public Through a SPAC ICE’s Bakkt crypto venture plans to roll out an app for trading and making payments with digital assets The price of bitcoin is skyrocketing, driving a rally of momentum trading that s pushed its value higher than it s ever been before. WSJ explains how bitcoin trading works, and why the volatile digital currency is reaching all-time highs. Illustration: Jacob Reynolds/WSJ By Jan. 11, 2021 8:00 am ET Intercontinental Exchange Inc., or ICE, will take its cryptocurrency venture public by merging it with a special-purpose acquisition company, a deal that will further its goal of launching a consumer app for trading and making payments with digital assets.

New SPAC Goes Big on Bitcoin and Other Digital Assets

A company called Bakkt, which was started by Intercontinental Exchange (ticker: ICE), the owner of the New York Stock Exchange, announced on Monday that it planned to go public. Bakkt, founded in 2018, initially made waves by launching a Bitcoin futures product. But the company appears most focused now on a digital app that allows people to trade and spend various kinds of digital assets from cryptocurrencies to loyalty points from businesses like Starbucks to videogame rewards. Bakkt will go public through a special purpose acquisition company, or SPAC, which involves a shell company raising money to buy another company and take it public. Bakkt will merge with

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