Intercontinental Exchange, the owner of the New York Stock Exchange (NYSE) and crypto trading platform Bakkt, has sold its 1.4% stake in Coinbase for $1.2 billion. The trade produced a net profit of about $900 million for Intercontinental Exchange, the company's CFO Scott Hill said in an earnings call last Thursday.

Spartan Protocol, a liquidity platform for synthetic assets on the Binance Smart Chain, was drained of $30 million in a coordinated attack on its liquidity pool last Saturday.

Last Friday, Skew, a company that provides professional data analytics and trade execution services for cryptocurrency markets, announced that it will be acquired by Coinbase.

Sponsored: NSFX.Ltd, which owns the NSBroker brand, was founded in 2011. It has a long track record in the industry as a reliable intermediary, providing favorable trading conditions to its users.

Top stories in the Crypto Roundup today:

• NYSE Owner Sells Coinbase Stake for $1.2 Billion, With a Profit of $900 Million
• Spartan Protocol Exploit Results in Loss of $30M
• Skew Announced That it Will be Acquired by Coinbase
• NSBroker Review: The Platform that Helps Traders Improve

NYSE Owner Sells Coinbase Stake for $1.2 Billion

Intercontinental Exchange, the owner of the New York Stock Exchange (NYSE) and crypto trading platform Bakkt, has sold its 1.4% stake in Coinbase for $1.2 billion.

The trade produced a net profit of about $900 million for Intercontinental Exchange, the company's CFO Scott Hill said in an earnings call last Thursday. The company sold the stake this month after Coinbase went public on April 14. The NYSE participated in Coinbase’s $75 million Series C funding round in January 2015.

The stake sale proceeds gave Intercontinental Exchange "some additional flexibility" to reduce its debt, said the company's incoming CFO Warren Gardiner. The company's leverage is now about 3.6 times of EBITDA (earnings before interest, taxes, depreciation, and amortization) compared to 4.2 times six months ago.

As for Coinbase, it listed on Nasdaq, and its shares are trading about 22% down since the listing. The shares were listed at a price of $381 and closed at $298 on Thursday.

Spartan Protocol Exploit Results in Loss of $30M

Spartan Protocol, a liquidity platform for synthetic assets on the Binance Smart Chain, was drained of $30 million in a coordinated attack on its liquidity pool last Saturday. 

The exploit targeted a “flawed liquidity share calculation” in the SPARTA/WBNB liquidity pool, which allowed the attacker to withdraw the funds, blockchain security company PeckShield explained. The security expert continued:

“In particular, the specific hack inflates the asset balance of the pool before burning the same amount of pool tokens to claim an unnecessarily large amount of underlying assets. The consequence of this attack results in more than $30M loss from the affected pool.”

Spartan Protocol tweeted about the exploit late Saturday, explaining that the “Attacker used $61m in BNB to overcome the pools via [...] as yet unknown economic exploit path to remove roughly $30m in funds from the pools.”

Skew Announced That it Will be Acquired by Coinbase

Last Friday, Skew, a company that provides professional data analytics and trade execution services for cryptocurrency markets, announced that it will be acquired by Coinbase.

Founded in 2018 in London, the Skew team has since grown to nearly 20 employees and through its leading data analytics product now serves over 100 hedge funds, trading firms, banks and exchanges including One River Asset Management, Susquehanna International Group and Galaxy Digital. The announcement reads:

“While joining Coinbase represents an unparalleled opportunity for skew’s continued growth, we remain acutely focused on supporting our clients and working with our ecosystem partners (...) We very much look forward to working with the Coinbase team to combine skew's leading analytics platform and derivatives expertise with Coinbase’s best-in-class institutional product suite.”

The acquisition is subject to customary closing conditions and is expected to close in the coming month.

NSBroker Review: The Platform that Helps Traders Improve

As NSBroker is registered in Malta, the first license it received was a Category 3 Investment Services License from the Malta Financial Services Authority. The company also operates in accordance with European legislation, in particular the MiFID Directive. In addition, a number of other regulatory bodies have approved its activities in the EEA:

NSFX.Ltd, which owns the NSBroker brand, was founded in 2011. It has a long track record in the industry as a reliable intermediary, providing favorable trading conditions to its users and actually withdrawable profits.

NSBroker has been able to stay on the market so long because of the favorable trading conditions it offers:

• Minimum starting deposit from 500 USD;
• Over 100 assets available for trading;
• Leverage up to 1:100;
• Deposits and withdrawals without commissions and restrictions;
• Low spreads from 0.3 pips.

The platform also has a full-fledged training centre for its clients, filled with a great variety of materials and services for gaining knowledge in Forex and CFD trading. On top of all this, its clients can also use a convenient trade copying service.

All they need to do is choose a signal provider from a list of available traders and subscribe ot their services. After that, all trades made by an experienced trader will be automatically copied to the client's account.

The key to success in trading is the use of innovative technology, which is why NSBroker providers its users with access to the trading environment through the most advanced trading terminal, MetaTrader5. It’s easy to navigate, comprehensive, and alerts users trade forex, indices, commodities, and cryptocurrencies.

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