Timing is key as Bakkt secures NYSE listing

Digital assets marketplace Bakkt is set to go public on the New York Stock Exchange in 2021, which could pave the way for more cryptocurrency service providers to follow suit. The Intercontinental Exchange announced on Jan. 11 that its cryptocurrency marketplace Bakkt would soon be listed on the NYSE public stock market. This will be done through a merger with a special purpose acquisition company VPC Impact Acquisition Holdings. The shell company will be used to merge with Bakkt in order for it to be listed on the stock market…

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Crypto Futures Exchange Bakkt Going Public at a Valuation of $2.1 Billion

Bitcoin futures exchange Bakkt is going public via a merger with VPC Impact Acquisition Holdings, a special purpose acquisition company (SPAC) created for taking startup firms public. Both companies have now confirmed the transaction, and will be listed on the New York Stock Exchange (NYSE) under a new name – Bakkt Holdings Inc., – sometime in the second quarter of 2021. Rumours about the deal have swelled since early January. After the merger, Bakkt is expected to have an enterprise value of $2.1 billion, the company announced on Jan. 11.…

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Bakkt and Galaxy Digital Team-Up on New Institutional Offering

The Intercontinental Exchange’s digital asset custody and derivatives platform Bakkt has partnered with crypto asset manager Galaxy Digital to launch a ‘white glove’ service for institutions seeking Bitcoin (BTC) exposure. The collaboration will see Galaxy Digital Trading’s (GDT) matching engine and trading platform offered alongside Bakkt’s digital asset custody services.  “We designed this partnership to service the uptick in demand our two firms have received from traditional asset managers seeking access to physical Bitcoin,” said Galaxy Digital’s Tim Plakas. “Together, Galaxy Digital and Bakkt offer a safe, efficient, and well-regulated…

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Former Bakkt CEO Faces Stiff Competition in November Special Election

Republican Senator and former Bakkt CEO Kelly Loeffler may find herself up against a better-organized and more supported Democratic candidate in November’s special election. Early returns are still coming in from the June 9 Democratic primary determining the challenger to David Perdue’s U.S. Senate seat in Georgia. However, at press time, Democrat Jon Ossoff is leading among seven senatorial candidates with 334,511 votes and 91% of precincts reporting.  Loeffler and her Republican and Democratic challengers were not on the ballot this evening, but there are indications Georgia may be turning…

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Bakkt Announces New Direct Payment Integration with Starbucks

A major digital asset platform is making it even easier to order that double espresso with an extra shot. Starbucks mobile app users will soon be given the option to pay for their drinks with “Bakkt Cash.” Intercontinental Exchange (ICE), parent company of the Bitcoin derivatives provider, had declared back in August 2018 that the coffee giant was looking at retail applications for crypto payments.  Today, Bakkt President Adam White announced the new payment integration with Starbucks on Twitter: We’re also reducing payment costs for merchants which improves their bottom…

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