#BAKKT

The news that Trump Media & Technology Group, a social media company owned by Trump, is in deep negotiations to acquire the cryptocurrency trading platform Bakkt (

@bakkt

) has set off a wave of news in the crypto circle, and the highest market value of the Meme coin $Bakkt has exceeded 40M.

CA: Hz4CJCpZky4YD75Zs2R2nBjP5wY6tYbraaT2hVZCpump

So what does Bakkt do? (Grok sorted)

Bakkt was founded in 2018 by Intercontinental Exchange (ICE) to provide an open and regulated global ecosystem for digital assets. It was created to help consumers and institutions seamlessly buy, sell, store and use digital assets through Microsoft's cloud solutions. Bakkt's early partners include Microsoft, Starbucks and Boston Consulting Group.

Main business and services:

1. Digital asset trading and warehousing:

- Bitcoin futures and options: Bakkt first launched Bitcoin futures and options contracts, providing physical settlement services, which was unique at the time and aimed to provide institutional investors with a more transparent and regulated market.

- Bakkt Warehouse: Provides secure storage solutions for digital assets to ensure the security and compliance of assets.

2. Consumer applications:

- Bakkt App: An application that integrates cash, cryptocurrency, reward points and game points, allowing users to trade and transfer using various digital assets.

3. Enterprise solutions:

- Loyalty program: Through Bakkt Crypto Rewards, companies can redeem loyalty points for cryptocurrency to enhance customer engagement.

- Payment solutions: Bakkt provides cryptocurrency payment options to reduce payment costs for merchants.

Financial and strategic development:

- Financing: Bakkt completed its Series A and Series B financing in 2018 and 2020, respectively, and has received more than US$400 million in total funds. Investors include many well-known institutions and individuals.

- Listing: In 2021, Bakkt was listed on the New York Stock Exchange through a merger with VPC Impact Acquisition Holdings.

- Acquisition: In order to expand its business, Bakkt acquired some assets of Rosenthal Collins Group, Digital Asset Custody Company (DACC), and Apex Crypto.