tZERO Accelerates Leadership in Digital Innovation with the Appointment of ICE Executive David Goone as New Chief Executive Officer

tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today it will appoint David Goone, currently the Chief Strategy Officer of Intercontinental Exchange, Inc. (NYSE: ICE), to become tZERO’s new Chief Executive Officer. Related to Goone’s appointment, tZERO also announced that it has completed an additional strategic funding round from new and existing investors. Participants in the financing include NYSE parent company ICE, which will become a significant minority shareholder of tZERO, Overstock.com, Inc. (NASDAQ: OSTK), an original investor in tZERO, and Medici Ventures, L.P., a blockchain-focused fund whose general partner is an entity affiliated with Pelion Venture Partners, among others.

Goone, who has helped build ICE into a trading, clearing, and data powerhouse during his 21-year tenure with the company, will begin his role with tZERO in March 2022.

tZERO, through a wholly owned subsidiary, operates an SEC-regulated alternative trading system (ATS) and broker-dealer in the digital asset space, and is a technology firm with the goal of democratizing access to capital markets. tZERO brings together issuers and financial firms seeking a transparent, automated, digitally enabled marketplace and investors seeking access to unique private assets, public equities, cryptocurrencies, and other digital assets, including non-fungible tokens (NFTs). tZERO also has a joint venture with BOX Digital Markets LLC to launch the nation’s first regulated blockchain-enabled securities exchange, known as the Boston Security Token Exchange (BSTX).

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“I look forward to bringing my three decades of product innovation and strategic experience forged in the exchange and derivatives trading industry to drive continued growth and operational excellence at tZERO,” said David Goone.

“David is a world-class leader and visionary and is uniquely qualified to lead tZERO through the next phase of its evolution and growth,” said Matt Mosman, Chairman of tZERO’s Board of Directors and General Partner at Pelion Venture Partners. “We are laser-focused on empowering tZERO to grow into its full potential as it continues to lead the space in providing investors with a seamless and holistic way to access all assets, such as cryptocurrencies, digital and conventional securities, and other assets, including NFTs.”

“David Goone was present at many of ICE’s milestone moments and deals over two decades, was a key player on our management team as we built our world-class trading, clearing, and data infrastructure and product line, and has been a steward of our problem-solving culture,” said Jeff Sprecher, Founder, Chairman, and CEO of Intercontinental Exchange. “David’s leadership and his mastery of trading, data, and clearing technology will be a big asset as tZERO begins its next chapter leading the growth and adoption of next-generation market infrastructure.”

“Having worked side-by-side with David for many years, I saw first-hand his skill in innovating and implementing products that benefit customers and drive evolution in the exchange space,” said Lynn Martin, President of the New York Stock Exchange. “I look forward to David’s next chapter as CEO of tZERO and witnessing his continued application of technology to trading.”

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Jonathan Johnson, CEO of Overstock, stated, “Overstock has been an early advocate for accelerating the adoption of blockchain technology, particularly in capital markets. We have long supported tZERO to do just that. With the addition of David as tZERO’s CEO, its successful new round of financing, and the recent approval of BSTX, it is a great opportunity for Overstock to invest more capital in tZERO. We believe the new capital infusion will allow the company to scale and continue its innovation in leveraging blockchain technology to create a more efficient and transparent Wall Street, ultimately revolutionizing and democratizing capital markets.”

Joining ICE in 2001 from CME Group, Goone was a driving force at ICE as its Chief Strategy Officer since its inception, through its IPO, and during its continued growth. Goone helped build the company from its early stage to a Fortune 500 company with over $7 billion in net revenue in 2021. During his tenure, Goone developed and managed many of the company’s product lines and oversaw ICE Benchmark Administration, which has administered LIBOR and the global gold and silver fixings. He has served on many of ICE’s subsidiary exchange boards and represents ICE on several industry boards, including the Depository Trust Clearing Corporation (DTCC), Options Clearing Corporation (OCC), and the National Futures Association (NFA). Goone also served as Vice Chairman of CETIP S.A. until its merger with B3 exchange in Brazil.