ChainCatcher news, according to The Block, U.S. President-elect Trump plans to appoint former Bakkt CEO and former Senator Kelly Loeffler as Secretary of Agriculture. Loeffler will also serve as co-chair of Trump's inauguration committee. Notably, Loeffler's husband, Jeff Sprecher, is the founder and CEO of ICE, the parent company of the New York Stock Exchange, which is the founding and major shareholder of Bakkt.Additionally, according to the Financial Times, Trump's social media company Trump Media and Technology Group (TMTG) is in advanced negotiations for an all-stock acquisition of Bakkt. Trump holds a 53% stake in TMTG. According to reports, Bakkt plans to build an institutional investor trading platform and may gradually shut down its licensed cryptocurrency custody business in New York.

ChainCatcher news, according to the ranking surge data from the Web3 asset data platform RootData, as of November 19 at 17:00, Bakkt has risen by 1,096 ranks, placing it first; Stashed has risen by 922 ranks, ranking second; Sender Wallet has risen by 909 ranks, coming in third.Additionally, the Web3 asset data platform RootData shows that Bakkt is a digital asset platform that enables consumers to buy, sell, store, and use digital assets. Bakkt's mission is to drive business growth by reimagining the digital asset ecosystem.It is reported that RootData has launched the first "Web3 Hot Project Ranking." This popularity ranking helps users capture the real pulse of attention and improve the accuracy of investment decisions through 4.3 million real user behavior data. The ranking is calculated in real-time based on weighted factors such as the frequency of searches by platform users, project click rates, user votes, and the popularity and influence on the X platform.

ChainCatcher news, according to the Financial Times, Trump's social media company is in advanced talks to acquire the cryptocurrency trading platform Bakkt, which is owned by the Intercontinental Exchange, as the company seeks to expand its business beyond online conversations.Two people familiar with the negotiations said that Trump Media and Technology Group is close to a full stock acquisition of Bakkt. The valuation under discussion is still unclear, but on Monday, Bakkt's market capitalization was slightly above $150 million.

ChainCatcher news, according to Crowdfund Insider, Blockchain.com announced a partnership with Bakkt to expand its cryptocurrency trading operations to all 50 states in the U.S. Bakkt is a regulated digital asset exchange that offers services such as custody and other infrastructure.Previously, Blockchain.com was unable to operate in eight states due to regulatory hurdles.

ChainCatcher news, according to financefeeds, cryptocurrency custody and trading company Bakkt will launch a crypto-exclusive electronic communication network (ECN) powered by Crossover Markets, designed to meet institutional needs.It is reported that BakktX will be supported by Crossover's high-performance technology, providing institutional and professional traders with matching latencies of less than 10 microseconds, customizable liquidity flows, and trading costs significantly lower than those of existing cryptocurrency brokers and trading platforms.

ChainCatcher news, Intercontinental Exchange (ICE) subsidiary digital asset company Bakkt released its financial report, with total revenue growing to $780 million in 2023, but a net loss of $226 million, a decrease of 89% compared to the previous year.Bakkt stated that its revenue growth from $56 million in 2022 was attributed to the successful acquisition and integration of Bakkt Crypto (formerly Apex Crypto) in April last year. However, due to increased costs related to cryptocurrency trading, the platform's operating expenses soared to over $1 billion.

ChainCatcher news, according to The Block, Bakkt faces the risk of delisting from the New York Stock Exchange (NYSE) as its stock price falls below the $1 threshold. Bakkt is a cryptocurrency platform created by the Intercontinental Exchange (ICE), which owns two-thirds of its shares.Bakkt announced on Wednesday that the New York Stock Exchange issued a notice stating that "the company does not comply with the provisions of Section 802.1 C of the NYSE Listed Company Manual. Because as of March 12, 2024, the average closing price of the company's Class A common stock has been below $1.00 per share for a consecutive 30-day trading period. This notice will not immediately result in the delisting of its common stock from the New York Stock Exchange."It is reported that on March 13, Bakkt responded to the New York Stock Exchange, stating its intention to address the issue of its stock price being below $1 and to restore compliance with the NYSE's continued listing standards. Bakkt's stock closed at $0.5978 on Wednesday, with a market capitalization of only $80 million, far below the trading price of $40 per share in October 2021.

ChainCatcher news, Bakkt Holdings, Inc. announced the relaunch of the Bakkt Custody platform, providing isolated on-chain wallet addresses that allow customers to configure security processes within the application and gain access to more advanced reporting features. Bakkt will also add 6 additional tokens to the Bakkt Custody platform, bringing the total to 8 tokens, including Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Dogecoin, USD Coin, and Shiba Inu.These new features of Bakkt Custody make it comparable to the services offered by Bakkt Trading. The new token functionality will be added to the platform in December 2023.

ChainCatcher news, digital asset platform Bakkt released its third-quarter financial report, with total revenue of $204.8 million (including total cryptocurrency revenue and net loyalty revenue), of which total cryptocurrency service revenue was $191.8 million, and total operating expenses were $257.6 million, including cryptocurrency costs and execution, clearing and brokerage fees, as well as goodwill and intangible asset impairments. Excluding cryptocurrency costs and execution, clearing and brokerage fees, and goodwill and intangible asset impairments, expenses were $44.2 million, a year-on-year decrease of 26%.

ChainCatcher news, according to The Block, Bakkt's CEO Gavin Michael stated that the company has recently made several acquisitions and partnerships, and is also expanding into international markets, set to launch in Latin America in the fourth quarter, followed by launches in the UK, EU, Hong Kong, and Australia.

ChainCatcher news, according to The Block, Bakkt's CEO Gavin Michael stated that while focusing on the U.S. market, they are also looking for attractive markets to drive growth. They are particularly focused on Hong Kong, the UK, and parts of the EU, as they have seen partners wanting to enter these areas and hope to provide support for them.Additionally, Michael mentioned that their international plans are supported by the acquisition of the U.S. comprehensive crypto trading platform Apex Crypto from Apex Fintech Solutions in April 2023. (Source link)

ChainCatcher news, according to Fortune magazine, the digital asset platform Bakkt has delisted SOL, MATIC, and ADA tokens due to unclear regulations. (Source link)

ChainCatcher news, influenced by regulatory factors and industry developments, the digital asset platform Bakkt has massively delisted various digital assets, including AAVE, AVAX, BNT, BAT, LINK, CHZ, COMP, ATOM, CRV, ENJ, FTM, FIL, GALA, GRT, ICP, LRC, MKR, REN, XLM, SUSHI, SNX, XTZ, and UNI.A spokesperson for Bakkt stated that after completing the acquisition of Apex Crypto, the decision to delist some tokens as part of the exchange's regular token listing review process was made as part of the shift from retail to B2B, following Bakkt's cessation of its consumer-facing application in February. (Source link)

ChainCatcher news, digital asset company Bakkt has delisted 25 of the 36 cryptocurrencies on its recently acquired trading platform Apex Crypto, including AAVE, AVAX, BNT, BAT, LINK, CHZ, COMP, ATOM, CRV, ENJ, FTM, FIL, GALA, GRT, ICP, LRC, MKR, REN, XLM, SUSHI, SNX, XTZ, and UNI. The company stated that it is following "the latest regulatory guidelines." (source link)

ChainCatcher news, Bakkt released its fourth-quarter financial report stating that revenue and expenses increased in the fourth quarter due to another large impairment charge. The quarterly revenue was $15.6 million, slightly below expectations, with a year-over-year growth of 14%. Adjusted earnings before interest, taxes, depreciation, and amortization were below expectations at -$30.5 million, which is 30.3% higher than the same period last year. Operating expenses rose from $86 million to $341 million, primarily driven by approximately $272 million in non-cash goodwill and intangible asset impairment charges.Previously, Bakkt reported a net loss of $1.5 billion in the third quarter, mainly due to its previously announced goodwill impairment charges. (source link)

ChainCatcher news, digital asset platform Bakkt announced that its consumer application will cease operations on March 16, and will focus on its B2B technology solutions, providing cryptocurrency and loyalty solutions for enterprise customers through SaaS and API solutions on a secure and compliant platform.Current Bakkt App users will retain access to all cryptocurrencies and cash on the Bakkt platform. Users will still be able to view their cryptocurrency balances and access cryptocurrency transaction reports for tax calculation purposes. BlockBeats previously reported that digital asset platform Bakkt acquired cryptocurrency trading infrastructure company Apex Crypto last November. (Source link)

ChainCatcher news, digital asset platform Bakkt reported a net loss of $1.5 billion in the third quarter, primarily due to its previously announced goodwill impairment charges. Bakkt's revenue for the third quarter was $12.9 million, a 41% increase compared to the same period last year, but below analysts' estimates of $14.1 million.The report showed that operating expenses, excluding impairment charges, were $60 million, nearly double the $30 million reported in the same period last year. (Source link)

ChainCatcher news, according to CoinDesk, digital asset platform Bakkt Holdings (BKKT) announced that it will acquire the cryptocurrency trading platform Apex Crypto from Apex Fintech Solutions. Bakkt will initially pay $55 million in cash upon completion of the transaction, and will pay up to $145 million in Bakkt stock and preferred notes upon achieving certain financial targets. (CoinDesk)