Back in 2019, the Intercontinental Exchange [ICE] rolled out Bitcoin derivative services that included futures and options through Bakkt. The cryptocurrency exchange saw immense traction back in the day and is reportedly prepping to go public.
Bakkt To Team Up With VPC Impact Acquisition Holdings
Over the course of the last two years, Bakkt made it to the headlines for various reasons. Starting with the launch of its Bitcoin futures platform all the way to Mike Blandina, the CEO of the firm bidding adieu to the crypto platform for JPMorgan, the platform is back in the headlines as rumors of the firm going public surfaced in the industry.
The platform has managed to stay relevant and its application is substantial proof of the same. Bakkt’s app allows users to keep their virtual assets in check while receiving loyal points as well as gift cards.
Bloomberg, in a recent report, revealed that Bakkt was in “advanced talks” with VPC Impact Acquisition Holdings, a black check firm. As told by an anonymous source, the crypto platform will reportedly engage in a merger with the aforementioned company in order to go public. The sources familiar with the matter further affirmed that an announcement about the same would be made as early as next week. The value of the transaction of both these platforms could sum up to a whopping $2 billion.
Furthermore, ICE’s crypto venture is signing the merger deal with VPC, a company intimately associated with Victory Park Capital which acquired the former under SPAC aka special purpose acquisition company. While the crypto exchange hasn’t affirmed its intention of going public, yet, the rumors about the same continue to prevail.
Additionally, Kelly Loeffler, the former CEO of Bakkt was seen resigning from the Georgia Senate re-election bid. Loeffler took to Twitter to congratulate Reverend Raphael Warnock while apologizing to those who supported her campaign. The tweet read,
She said,
“Unfortunately, we came up slightly short in the runoff election, and earlier today I called Reverend Warnock to congratulate him and wish him well in serving this great state.”