Digital asset firm Bakkt has dropped 25 of the 36 crypto tokens listed on its recently acquired trading platform Apex Crypto.
On May 12, a spokesperson for the company said that the decision was “part of our regular coin listing review process,” adding:
“Our clients’ and their consumers’ best interests are our core commitment, and our review process ensures those interests are best served when we contemplate the most up-to-date regulatory guidance and the latest industry developments.”
Further details are sparse, but most of the dropped tokens are tied to popular decentralized finance and nonfungible token ecosystems.
The delisted tokens include
- Aave
- ApeCoin
- Avalanche
- Bancor Network Token (BNT)
- Basic Attention Token (BAT)
- Chainlink
- Chiliz (CHZ)
- Compound Token
- Cosmos
- Curve DAO (CRV)
- Enjin Coin (ENJ)
- Fantom (FTM)
- Filecoin (FIL)
- GALA (GALA)
- The Graph (GRT)
- Internet Computer
- Loopring
- Maker DAO
- Republic (REN)
- Stellar
- SushiSwap
- Synthetix
- Texos
- Uniswap
- Yearn.finance
In November 2022, Bakkt, a leading digital asset platform, revealed its intention to acquire Apex Crypto, an unprofitable fintech service provider. The acquisition aimed to enhance Bakkt’s position in the fintech market and expand its range of services. Apex Crypto offers a comprehensive suite of services including execution, clearing, custody, cost basis, and tax services to its five million customers through partnerships with 30 fintech clients. The acquisition was successfully finalized in April, with Bakkt paying $55 million in cash and $145 million in stock.
Bakkt is majority owned by Intercontinental Exchange, which also owns the New York Stock Exchange. Its stock closed down 7% on May 12.
