Bakkt maintains that it has not been exposed to FTX, FTT, Alameda, or other related companies
Bakkt maintains that it has not been exposed to FTX, FTT, Alameda, or other related companies
ALPHARETTA, Ga. -- (BUSINESS WIRE) - Bakkt Holdings, Inc. (NYSE: BKKT) today that it does not do business with FTX, FTT, Alameda, Gemini, Genesis, or companies that have ceased their activities due to persistent infections in the crypto markets. Consumers on the Bakkt platform continue to access their cryptocurrencies and can buy or sell as usual, and the Bakkt institutional platform continues to operate at total capacity. As noted in a blog post published earlier this week, Bakkt takes a cautious approach to risk, avoiding lending, remortgaging, leverage, and illiquid positions.
©While the contagion among crypto businesses has continued to spread in the week, we wanted to verify that we have no exposure to the affected companies and that we continue to operate all aspects of our business as usual,© said Gavin Michael, CEO of Bakkt. ©As a publicly traded American company, we've chosen to be regulated in the most comprehensive manner available to a business in this space. it's shameful to see the fraud that has been perpetrated and its impact on lives and lives. These latest developments only reinforce my belief that Bakkt has a crucial role to play as an experienced and regulated player that enables access to crypto in a thoughtful and responsible way.
Earlier this month, Bakkt announced that it had entered into a definitive agreement to accumulate Apex Crypto LLC. Apex Crypto has no direct exposure to FTX, Alameda, or FTT. Apex Crypto has never had a relationship with FTX or Alameda and doesn't offer FTT as a tradable token on the Apex Crypto platform. Apex Crypto trading partners even have no material exposure to FTX. As its liquidity provider, Apex Crypto hasn't any direct exposure to Genesis or material exposure to Gemini.
About the crypto company Bakkt
Bakkt may be a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a broad range of clients. Bakkt©s platform, available through partners, amplifies consumer spending and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem. Launched in 2018, Bakkt platform was launched in 2018
