⚡The #blockchain technology platform #Bakkt acquires Apex #Crypto for $200M

Bakkt has conducted the $200M acquisition of Apex Crypto, a turnkey platform that lets #fintech businesses offer #cryptocurrency investing to clients.

Bakkt, a cryptocurrency trading platform under the world's largest stock exchange group Intercontinental Exchange (ICE), announced on its official website that it recorded a net loss of $52.9 million in the second quarter of this year. Bakkt plans to relaunch its cryptocurrency custody solution and estimates 2023 sales to be between $750 million and $1.268 billion. 📊💰 #Bakkt #cryptocurrency #Q3earnings

Bakkt brings focus back to crypto custody in Q2 earnings

It's back to the basics for crypto services firm Bakkt.

The company, which reported quarter 2 earnings on Thursday, highlighted its renewed push into crypto custody — a business that served as the company's foundation prior to its public listing on the New York Stock Exchange. In 2020, the firm made headlines for its so-called Bakkt Warehouse, which offered $125 million in insurance for custody clients, as well as its business relationship with bitcoin bull Paul Tudor Jones.
#crypto2023 #MultiChain #Bakkt

- Bakkt, a crypto firm backed by the Intercontinental Exchange (ICE), has warned that it may lack the necessary funds to continue operations for the next 12 months.

- Launched in 2018 by ICE with significant anticipation, Bakkt aimed to provide institutional investors access to Bitcoin.

- The firm is uncertain about its ability to expand into new markets and grow its revenue base in the fast-paced crypto asset environment.

- Bakkt acknowledges the struggle to generate a sustainable operating profit and sufficient cash flows.

- The company's future business success relies on raising capital and significantly increasing its revenues.

- Bakkt is considering raising funds by issuing up to $150 million in registered securities publicly.

- The firm's public journey, which began in 2021 with shares peaking over $40, has faced challenges, with shares dropping 7.6% in after-hours trading and declining 37% since the beginning of this year.

#Bakkt #ExchangeNews

- Bakkt, a digital asset platform, is reportedly seeking to sell up to $150 million in securities.

- The move is seen as an effort to address the operational funding shortage that Bakkt has been facing.

- A previous filing with the SEC by Bakkt had noted concerns about the company's cash flow being insufficient to support operations for the 12 months following the submission date.

- Selling securities could provide Bakkt with additional funding to sustain its operations and address financial challenges.

#Bakkt

📊 Bakkt, the Intercontinental Crypto exchange has announced the mass delisting of the following tokens due to regulatory guidance :

1. #Aave (#AAVE)
2. #Avalanche  (#AVAX )
3. Bancor Network Token (BNT)
4. Basic Attention Token (BAT)
5. #Chainlink (#LINK)
6. #Chiliz (#CHZ)
7. Compound Token (COMP)
8. #Cosmos (#ATOM)
9. Curve DAO (CRV)
10. Enjin Coin (ENJ)
11. #Fantom (#FTM)
12. Filecoin (#FIL)
13. GALA (#GALA)
14. The Graph (#GRT)
15. Internet Computer (#ICP)
16. Loopring (LRC)
17. Maker DAO (MKR)
18. Republic (REN)
19. Stellar (#XLM)
20. Sushiswap (SUSHI)
21. Synthetix (SNX)
22. Tezos (XTZ)
23. #Uniswap (#UNI)

#Bakkt #BRC20 #googleai #crypto2023 #BTC