ICE Calls Bakkt Its ‘Moonshot Bet’ on Bitcoin and Crypto As Company Reports Record-Breaking Earningshttps://dailyhodl.com/2019/02/08/ice-calls-bakkt-its-moonshot-bet-on-bitcoin-and-crypto-as-company-reports-record-breaking-earnings/"Intercontinental Exchange (ICE), the parent company of upcoming cryptocurrency trading platform Bakkt, reports a record-breaking $1.3 billion in consolidated fourth-quarter net revenues, up 14% year over year."
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Our investment in Bakkt will generate $20 million to $25 million of expense based upon the run rate in the first quarter.
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That infrastructure has attracted a lot of very, very interesting companies that have come, some that have invested in Bakkt, some are just working with Bakkt, to try to tap into that infrastructure for some new use cases that will involve blockchain and digital assets and other things that we can provide these people. Obviously, we’ve announced the – our work with Starbucks and Microsoft.
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Bakkt has its own offices, its own management team and et cetera. And then we’ve entered into agreements with it to provide services, as I’ve described, over that Bakkt – over that ICE overlay.