Aug 4, 2018

New York Stock Exchange operator gets into cryptocurrency

Photo: Omar Marques/SOPA Images/LightRocket via Getty Images

Intercontinental Exchange, which owns the New York Stock Exchange, is opening a new cryptocurrency management company, according to the Verge.

Why it matters: The new company, Bakkt, could lend some legitimacy to cryptocurrency, which has "been marred by hoaxes and even reports of price manipulation," per the Verge. The Swiss investment bank UBS published a report concluding that the price of a single coin would need to sit around $213,000 for Bitcoin to be viable as a money supply; it currently sits at $7,000.

The details: The company will "hold and manage people's cryptocurrency," and be operated by Microsoft cloud tech, per the Verge.

What's next: Bakkt plans to "begin offering services in November," and will be announcing more details in the coming weeks.

Go deeper: Cryptocurrency markets grapple with insider trading.

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Big video game conference delayed amid coronavirus concerns

Photo: GDC

Next month's Game Developers Conference in San Francisco became the latest tech event to be cancelled or postponed amid growing concerns over the spread of the novel coronavirus.

The big picture: A growing number of events are being scrapped, including Mobile World Congress and Facebook's F8 developer conference. Some, like the giant SXSW event in Austin, insist they are moving forward.

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Trump again nominates Rep. John Ratcliffe for intelligence chief

Ratcliffe at CPAC on Feb. 27. Photo: Michael Brochstein/Echoes Wire/Barcroft Media via Getty Images

President Trump again nominated Rep. John Ratcliffe (R-Texas) as Director of National Intelligence (DNI), in a tweet on Friday.

Catch up quick: If confirmed, Ratcliffe would eventually replace Richard Grenell, a staunch defender of Trump and former U.S. ambassador to Germany who was installed as the acting DNI only a few weeks ago. Grenell would have had to leave the post on March 11 unless Trump formally nominated someone else to oversee the U.S. intelligence community, the New York Times reports.

Go deeperArrowUpdated 2 hours ago - Politics & Policy