The institutional platform Bakkt has delisted the majority of DeFi tokens from the previously acquired Apex Crypto. The decision was explained by the desire to comply with regulatory requirements, reports CoinDesk with reference to a company representative.
Bakkt closed the deal to buy Apex Crypto in April 2023. The latter is an integrated cryptocurrency trading platform that provides transaction execution, clearing, and also offers custodial services and a tax-related service.
The company delisted 25 of the 36 previously available assets, including Aave (AAVE), Avalanche (AVAX), Cosmos (ATOM), Fantom (FTM), Filecoin (FIL), GALA (GALA), Sushiswap (SUSHI) and Uniswap (UNI ).
“Following the closing of the acquisition of Apex Crypto, as part of our regular asset listing review process, we have taken the decision to delist a number of coins. […] Review process ensures best interests [клиентов]as we review the latest regulatory guidance and industry developments,” a Bakkt spokesperson told CoinDesk.
The deal with Apex Fintech Solutions (the former owner of Apex Crypto) was part of the company’s transition to a B2B. In February, the platform closed the cryptocurrency retail app.
May 11 published statement of financial results for the first three months of 2023. Quarterly loss was $0.17 per share, net income reached $13 million, which below consensus forecast of some analysts. However, the latter indicator increased by 4% in annual terms.
According to the document, Apex Crypto’s projected gross revenue for all of 2023 is estimated to be in the range of $1.874 billion to $2.376 billion. At the time of the acquisition, it served more than 5.8 million accounts.
Bakkt has been listed on the New York Stock Exchange (NYSE) since October 2021, operated by its parent company. ICE. Following the session on May 12, the platform’s securities quotes fell by almost 7%.
Amid regulatory uncertainty in the US, many cryptocurrency companies are leaving the country or cutting back on their services.
Recall that in May 2023, Bloomberg journalists reported that one of the world’s largest market makers Jane Street and Jump Trading will refuse to trade digital assets in the United States.
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The institutional platform Bakkt has delisted the majority of DeFi tokens from the previously acquired Apex Crypto. The decision was explained by the desire to comply with regulatory requirements, reports CoinDesk with reference to a company representative.
Bakkt closed the deal to buy Apex Crypto in April 2023. The latter is an integrated cryptocurrency trading platform that provides transaction execution, clearing, and also offers custodial services and a tax-related service.
The company delisted 25 of the 36 previously available assets, including Aave (AAVE), Avalanche (AVAX), Cosmos (ATOM), Fantom (FTM), Filecoin (FIL), GALA (GALA), Sushiswap (SUSHI) and Uniswap (UNI ).
“Following the closing of the acquisition of Apex Crypto, as part of our regular asset listing review process, we have taken the decision to delist a number of coins. […] Review process ensures best interests [клиентов]as we review the latest regulatory guidance and industry developments,” a Bakkt spokesperson told CoinDesk.
The deal with Apex Fintech Solutions (the former owner of Apex Crypto) was part of the company’s transition to a B2B. In February, the platform closed the cryptocurrency retail app.
May 11 published statement of financial results for the first three months of 2023. Quarterly loss was $0.17 per share, net income reached $13 million, which below consensus forecast of some analysts. However, the latter indicator increased by 4% in annual terms.
According to the document, Apex Crypto’s projected gross revenue for all of 2023 is estimated to be in the range of $1.874 billion to $2.376 billion. At the time of the acquisition, it served more than 5.8 million accounts.
Bakkt has been listed on the New York Stock Exchange (NYSE) since October 2021, operated by its parent company. ICE. Following the session on May 12, the platform’s securities quotes fell by almost 7%.
Amid regulatory uncertainty in the US, many cryptocurrency companies are leaving the country or cutting back on their services.
Recall that in May 2023, Bloomberg journalists reported that one of the world’s largest market makers Jane Street and Jump Trading will refuse to trade digital assets in the United States.
Found a mistake in the text? Select it and press CTRL+ENTER
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