Bakkt crypto list, login, app download, legit, Price, news, solutions, restricted states are discussed here.
Bakkt crypto News
Donald Trump’s social media group in talks to buy crypto trading venue. Truth Social owner is close to an all-share takeover of Intercontinental Exchange’s Bakkt
The US president-elect’s Trump Media and Technology Group, in which he has pledged to retain his 53 per cent stake, is closing in on an all-share purchase of Bakkt, said two people with knowledge of the talks. The valuation under discussion was not immediately clear but Bakkt’s market capitalisation stood at just over $150mn on Monday.
TMTG, which operates Truth Social, has become one of the most actively traded US stocks since Trump’s election victory as retail investors try to profit on its often-volatile trading moves. Although it has reported just $2.6mn in revenues this year, TMTG has a $6bn equity valuation, giving its management a valuable currency with which to buy other companies.
Bakkt shares soared 162 per cent after the FT reported the talks. TMTG shares were up about 16.7 per cent.
A successful deal would deepen Trump’s move into the cryptocurrency market after he began promoting a new crypto venture set up by longtime business partners, World Liberty Financial, from which he stands to earn significant fees. Crypto markets have also soared following his election victory, with bitcoin up more than 30 per cent on speculation that his administration would enact favourable legislation for the industry.
Bakkt, which has struggled for profitability since its launch, was created by ICE, and the owner of the New York Stock Exchange still holds a 55 per cent economic interest in it.
Bakkt’s first chief executive was Kelly Loeffler, a former head of marketing at ICE and a Republican ex-senator for Georgia during Trump’s first presidency. She is co-chair of the committee organising his inauguration in January. She is also married to Jeff Sprecher, ICE’s founder, chair and chief executive.
ICE and Bakkt declined to comment. TMTG did not immediately respond to a request for comment.
The crypto business had been set up to hold digital assets such as bitcoin and ether on behalf of customers but failed to gain traction and made operating losses of $27,000 from revenues of $328,000 in the three months to September 30. Bakkt is planning to build a trading platform for institutional investors.
Bakkt faced a delisting from NYSE owing to its lowly share price, until it effected a 1 for 25 reverse stock-split in April. Last week its share price rose 15 per cent.
Who owns Bakkt?
Bakkt was founded, and is 55% owned, by Intercontinental Exchange (ICE), which also owns the New York Stock Exchange. Bakkt earns revenue from commissions for payments and purchases and sales of cryptocurrency.
Is Bakkt reliable?
Largely thanks to its roots with ICE, Bakkt takes security and regulatory compliance seriously. The provider does not rehypothecate or lend out any funds under custody. All customer crypto is kept in a separate trust entity regulated by NYDFS and all assets are fully backed 1:1.
What crypto does Bakkt support?
Its crypto custody business, which holds crypto such as Bitcoin (BTC) and Ethereum (ETH) for customers, reported minimal revenues of $328,000 and operating losses of $27,000 in the third quarter of 2023.
Where is Bakkt located?
Where are Bakkt’s corporate headquarters? Bakkt’s corporate headquarters are located in Alpharetta, Georgia, with additional office locations in New York, San Francisco and Scottsdale.
Who are the largest shareholders of Bakkt?
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. BlackRock, Inc. Invesco Ltd.
Who are competitors of Bakkt?
Bakkt’s top competitors include Bittrex, Coinbase and Binance.
Who is the CEO of Bakkt Holdings?
Andy Main. Andy Main is Bakkt’s Chief Executive Officer and President. He has served as the former Global CEO of Ogilvy and former Global CEO of Deloitte Digital.
How does Bakkt work?
Crypto purchased from Bakkt is custodied in a separate trust entity regulated by the New York Department of Financial Services. We do not use your assets for any other purpose and we operate with a one-to-one full reserve1, which means you can feel comfortable that your crypto is not at risk.
What is bakkt crypto?
Bakkt Holdings, Inc., headquartered in Alpharetta, Georgia and New York City, provides a software as a service (SaaS) and API platform for owning and trading cryptocurrency and redeeming loyalty points. Bakkt was founded, and is 55% owned, by Intercontinental Exchange (ICE), which also owns the New York Stock Exchange.
What is the forecast for Bakkt?
Best Analysts Covering Bakkt Holdings, Inc. Class A. trades and holding each position for 1 Month would result in 60.00% of your transactions generating a profit, with an average return of +16.84% per trade.
Visit Harraiya times for Latest Cryptocurrency News, Financial News and Sports News. Follow us on Facebook, X ( Twitter ), Instagram and LinkedIn.
1 thought on “Bakkt crypto list, login, app download, legit, Price, news, solutions, restricted states”