Photo: Chesnot/Getty Images

Bakkt, a digital assets and Bitcoin futures platform founded by Intercontinental Exchange (ICE), raised $182.5 million in first-round funding.

Why it matters: The battered Bitcoin community has been eagerly awaiting the launch of a physically settled futures market with the institutional imprimatur of ICE, which also owns the New York Stock Exchange. But Bakkt's funding announcement was married to another delay. Original plans were to go live in November, which was then pushed back to Jan. 24 and now is TBD as Bakkt awaits permission from a CFTC that is in government shutdown mode.

  • Investors include ICE, Horizon Ventures, Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, M12, Pantera Capital, Naspers and Protocol Ventures.
  • The bottom line: "The path to developing new markets is rarely linear: progress tends to modulate between innovation, dismissal, reinvention, and, finally, acceptance," says Bakkt CEO Kelly Loeffler.

Go deeper

1 hour ago - Technology

TikTok to pull out of Hong Kong

Illustration: Aïda Amer/Axios

TikTok said Monday night that it would pull its social video platform out of the Google and Apple app stores in Hong Kong amid a restrictive new law that went into effect last week.

Why it matters: TikTok's move comes as many large tech companies say they are still evaluating how to respond to the Hong Kong law.

4 hours ago - World

Ethiopia's Nobel Peace laureate cracks down on ethnic violence

The image of a Nobel Peace laureate in military fatigues encapsulates the moment in which Ethiopia finds itself — on the verge of a transition to democracy, a descent into violence or, perhaps, a precarious combination of the two.

Driving the news: At least 166 people were killed after an iconic musician, Haacaaluu Hundeessaa, was murdered last Monday in Addis Ababa, the capital. Prime Minister Abiy Ahmed responded to the violence by sending in troops and shutting off the internet. High-profile opposition leaders were arrested, along with some 2,300 others.

Updated 5 hours ago - Health

Atlanta Mayor Keisha Lance Bottoms tests positive for coronavirus

Atlanta Mayor Keisha Lance Bottoms said on Monday that she has tested positive for the coronavirus after displaying no symptoms.

Why it matters: Bottoms, one of several Black women on the shortlist to be Joe Biden's running mate, has risen to national prominence in recent months as part of mass protests over racism and police brutality — driven in part by the killing of Rayshard Brooks by Atlanta police.