Bakkt Delists 25 Tokens, Including AAVE, LINK, And UNI Amid Regulatory Changes

Key points:

• Bakkt confirms delisting 25 of its 36 tokens via Apex Crypto, including several DeFi tokens.
• The company decided to ensure the best interests of its clients and consumers were being served.

Bakkt, the Intercontinental Exchange’s crypto business, has confirmed delisting 25 of the 36 tokens it offers via Apex Crypto. The delisting decision was made after the firm acquired custody and clearing firm Apex Crypto last month.

Some prominent decentralized finance (DeFi) tokens are among the digital assets being delisted. A spokesperson for the exchange said that the decision was made to ensure that the clients’ and their consumers’ best interests were being served.

Bakkt agreed to purchase Apex Crypto for a maximum of $200 million, and the deal closed on April 1. The acquisition of Apex Crypto was part of the firm’s shift towards B2B after having recently shuttered its consumer crypto trading app. Despite having quarterly revenues of $13 million last quarter, the exchange has struggled to gain a foothold in the market and a critical mass of traders.

After considering regulatory guidance and the latest industry developments, the exchange decided to delist tokens. The company’s review process ensures that the most up-to-date regulatory guidance and industry developments are being contemplated.

The tokens Bakkt is delisting:

• Aave (AAVE)
• ApeCoin (APE)
• Avalanche (AVAX)
• Bancor Network Token (BNT)
• Basic Attention Token (BAT)
• Chainlink (LINK)
• Chiliz (CHZ)
• Compound Token (COMP)
• 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)
• Uniswap (UNI)
• Yearn Finance (YFI)

The delisting of tokens may impact the crypto market and traders. However, it is essential to note that Bakkt is taking steps to ensure that its clients and their consumers’ best interests are being served and that it is keeping up-to-date with regulatory guidance and industry developments.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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