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A $2 Billion Bet on Blockchain
The Intercontinental Exchange (ICE) just announced that it is making up to a $2 billion investment in privately traded blockchain company Polymarket. The investment was made at an $8 billion pre-money valuation, which results in the largest investment in a blockchain company made by a traditional financial services company. In short, this is a landmark deal. For those that aren’t familiar with ICE, it is the parent company of the New York Stock Exchange – home to the largest market capitalization for publicly traded equities. ICE is also a dominant force in energy, mortgage, and fixed income markets. It rules ... (full story)