Intercontinental Exchange announces strategic investment in tZERO

Intercontinental Exchange (NYSE:ICE) announced a strategic investment in tZERO, a trading platform for cryptocurrencies and digital assets. In connection with the investment, David Goone - ICE’s chief strategy officer - will join tZERO as its next CEO and will serve on tZERO’s board. Goone, who joined ICE in 2001, will continue to serve ICE in a consulting capacity. Terms of ICE’s investment, which will make ICE a significant minority shareholder in tZERO, are not being disclosed. The financial impact of the transaction will not be material to ICE or impact ICE’s capital return plans. Other participants in tZERO’s fundraising round include Overstock.com (NASDAQ:OSTK), an original investor in tZERO, and Medici Ventures, a blockchain-focused fund, among others.