Bakkt Crypto Platform for Institutional Investors Delists Several Digital Assets – Which Cryptos Are Facing the Axe?
Cryptocurrency platform Bakkt is removing support for 25 out of the 36 tokens offered by its recently-acquired trading platform Apex Crypto.
Bakkt's decision to delist these tokens is part of a wider trend of companies reducing their exposure to risk as they try to navigate uncertain regulatory changes.
The list of de-listed tokens is largely compromised of prominent decentralized finance (DeFi) tokens, which include Aave (AAVE), Avalanche (AVAX), Bancor Network Token (BNT), Basic Attention Token (BAT), Chainlink (LINK), Chiliz (CHZ), Compound Token (COMP), and Cosmos (ATOM).
Curve DAO (CRV), Enjin Coin (ENJ), Fantom (FTM), Filecoin (FIL), GALA (GALA), The Graph (GRT), Internet Computer (ICP), Loopring (LRC), Maker DAO (MKR), Republic (REN), Stellar (XLM), Sushiswap (SUSHI), Synthetix (SNX), Texos (XTZ), and Uniswap (UNI) are also in the list.
“Following the closing of our acquisition of Apex Crypto and as part of our regular coin listing review process, we have made the decision to delist a number of coins on the platform,” a spokesperson for the exchange reportedly said.
“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.”
Bakkt, which is majority-owned by Intercontinental Exchange – the parent company of the New York Stock Exchange – recently acquired the unprofitable Apex Crypto to gain a greater foothold in the fintech market.
The acquisition was completed in April for $55 million in cash and $145 million in stock, giving Bakkt a significant advantage in the fintech space by allowing it to offer execution, clearing, custody, cost basis,
Read more on cryptonews.com
