ASX sells its stake in Digital Asset Holdings for $57 million, expected to generate approximately $42 million in pre tax income The Australian Securities Exchange (ASX) announced on June 13th the sale of its entire stake in blockchain developer Digital Asset Holdings for approximately $57 million. This transaction will be reflected in ASX's fiscal year 2025 financial report and is expected to generate approximately $42 million in pre tax income (compared to book value) and approximately $10 million in pre tax income (compared to initial acquisition costs). The income will be included in the asset revaluation reserve. ASX acquired 8.5% of Digital Asset's shares in 2016 when it replaced its outdated CHESS clearing and settlement system with blockchain technology. However, due to the failure of Digital Asset and VMware to achieve key objectives, the project was cancelled in November 2022, resulting in ASX losing $250 million. Currently, Tata Consulting Services is advancing a new CHESS replacement project. Meanwhile, the Australian Securities and Investments Commission (ASIC) is suing ASX for misleading statements, alleging that it did not truthfully reflect the progress of blockchain projects.