Bakkt confirms no exposure to FTX, FTT, Alameda or other affected companies
November 17 2022 - 8:15AM
Business Wire
Bakkt Holdings, Inc. (NYSE: BKKT) announced today that it has no
exposure to FTX, FTT, Alameda, Gemini, Genesis, or companies that
have halted activities due to ongoing contagion in the crypto
markets. Consumers on the Bakkt platform continue to have access to
their crypto and can buy or sell as usual, and Bakkt’s
institutional platform also continues to be fully operational. As
shared in a blog post published earlier this week, Bakkt takes a
conservative approach to risk, avoiding lending, rehypothecation,
leverage and illiquid positions.
“As contagion among crypto companies has continued to spread
this week, we wanted to confirm that we have no exposure to
affected companies and continue to operate all aspects of our
business as usual,” said Gavin Michael, CEO of Bakkt. “As a
publicly-traded U.S. company, we have opted to be regulated in the
most comprehensive way available for a company in this space. It’s
shameful to see the fraud that was perpetrated and its impact on
the lives and businesses of many. These latest developments only
strengthen my belief that there is an important role for Bakkt as
an experienced, regulated player that enables crypto access in a
thoughtful and responsible way.”
Earlier this month, Bakkt announced it reached a definitive
agreement to acquire Apex Crypto LLC. Apex Crypto also does not
have any direct exposure to FTX, Alameda or FTT. Apex Crypto has
never had a relationship with FTX or Alameda and does not offer FTT
as a tradable token on the Apex Crypto platform. Apex Crypto’s
trading partners also do not have any material exposures to FTX.
Apex Crypto, along with their liquidity providers, have no direct
exposure to Genesis and no material exposure to Gemini.
About Bakkt
Bakkt is 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 is headquartered
in Alpharetta, GA. For more information, visit:
https://www.bakkt.com/ | Twitter @Bakkt | LinkedIn
https://www.linkedin.com/company/bakkt/
Bakkt-C Source: Bakkt Holdings, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20221117005712/en/
Investor Relations Ann DeVries, Head of Investor
Relations Ann.DeVries@bakkt.com Media Lauren Post, Head of
Communications Lauren.Post@bakkt.com
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