{"id":9010,"date":"2023-05-15T14:34:11","date_gmt":"2023-05-15T18:34:11","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/bakkt-crypto-platform-for-institutional-investors-delists-several-digital-assets-which-cryptos-are-facing-the-axe\/"},"modified":"2023-05-15T14:34:12","modified_gmt":"2023-05-15T18:34:12","slug":"bakkt-crypto-platform-for-institutional-investors-delists-several-digital-assets-which-cryptos-are-facing-the-axe","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9010","title":{"rendered":"Bakkt Crypto Platform for Institutional Investors Delists Several Digital Assets \u2013 Which Cryptos Are Facing the Axe?"},"content":{"rendered":"
\n

Cryptocurrency platform Bakkt is removing support for 25 out of the 36 tokens offered by its recently-acquired trading platform Apex Crypto.<\/p>\n

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.<\/p>\n

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).\u00a0<\/p>\n

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.\u00a0<\/p>\n

\u201cFollowing 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,\u201d a spokesperson for the exchange reportedly\u00a0said.\u00a0<\/p>\n

\n

\u201cOur clients\u2019 and their consumers\u2019 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.\u201d<\/p>\n<\/blockquote>\n

Bakkt, which is majority-owned by Intercontinental Exchange \u2013 the parent company of the New York Stock Exchange \u2013 recently acquired the unprofitable Apex Crypto to gain a greater foothold in the fintech market.\u00a0<\/p>\n

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, and tax services to five million customers through 30 fintech clients.<\/p>\n

In March, the company also\u00a0revealed\u00a0that it is shutting down its retail-oriented app that offered crypto trading, loyalty rewards, and gift cards.<\/p>\n

Instead, the company said it would concentrate on providing crypto and loyalty services to businesses through service-as-a-sale and application programming interface solutions.<\/p>\n

US Regulators Ramp Up Scrutiny of Crypto Companies<\/h2>\n

The recent move by Bakkt comes as US regulators have increased their scrutiny of the crypto industry, with Securities and Exchange Commission (SEC) Chair Gary Gensler arguing that most crypto tokens trade as securities.<\/p>\n

As reported, the commission has accused now-defunct crypto exchange Bittrexu US of running an unregistered securities exchange.<\/p>\n

Specifically, the SEC\u00a0alleged\u00a0that Bittrex’s listing of tokens OMG, Dash, ALGO, Monolith (TKN), Naga (NGC), and IHT Real Estate Protocol (IHT) constituted unregistered securities offerings.<\/p>\n

Last week, the Wall Street Journal\u00a0reported\u00a0that the SEC has so far identified 76 such digital tokens that trade, or have been traded, in the US as securities, with Ripple\u2019s\u00a0XRP\u00a0token being the best-known and most valuable.<\/p>\n

According to the report, there are now 16 tokens deemed to be securities that still trade on one or more major US-registered crypto exchanges.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":1,"featured_media":9011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-9010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nBakkt Crypto Platform for Institutional Investors Delists Several Digital Assets \u2013 Which Cryptos Are Facing the Axe? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Cryptocurrency platform Bakkt is removing support for 25 out of the 36 tokens offered by its recently-acquired trading platform Apex Crypto.Bakkt's\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=9010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bakkt Crypto Platform for Institutional Investors Delists Several Digital Assets \u2013 Which Cryptos Are Facing the Axe? | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Cryptocurrency platform Bakkt is removing support for 25 out of the 36 tokens offered by its recently-acquired trading platform Apex Crypto.Bakkt's\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=9010\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-15T18:34:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-15T18:34:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/33dee2b561-media-library-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=9010#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=9010\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Bakkt Crypto Platform for Institutional Investors Delists Several Digital Assets \u2013 Which Cryptos Are Facing the Axe?\",\"datePublished\":\"2023-05-15T18:34:11+00:00\",\"dateModified\":\"2023-05-15T18:34:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=9010\"},\"wordCount\":488,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=9010#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=9010\",\"url\":\"https:\/\/ifintechworld.com\/?p=9010\",\"name\":\"Bakkt Crypto Platform for Institutional Investors Delists Several Digital Assets \u2013 Which Cryptos Are Facing the Axe? | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-15T18:34:11+00:00\",\"dateModified\":\"2023-05-15T18:34:12+00:00\",\"description\":\"Cryptocurrency platform Bakkt is removing support for 25 out of the 36 tokens offered by its recently-acquired trading platform Apex Crypto.Bakkt's\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=9010#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=9010\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=9010#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bakkt Crypto Platform for Institutional Investors Delists Several Digital Assets \u2013 Which Cryptos Are Facing the Axe?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bakkt Crypto Platform for Institutional Investors Delists Several Digital Assets \u2013 Which Cryptos Are Facing the Axe? | iFintechWorld","description":"Cryptocurrency platform Bakkt is removing support for 25 out of the 36 tokens offered by its recently-acquired trading platform Apex Crypto.Bakkt's","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=9010","og_locale":"en_US","og_type":"article","og_title":"Bakkt Crypto Platform for Institutional Investors Delists Several Digital Assets \u2013 Which Cryptos Are Facing the Axe? | iFintechWorld","og_description":"Cryptocurrency platform Bakkt is removing support for 25 out of the 36 tokens offered by its recently-acquired trading platform Apex Crypto.Bakkt's","og_url":"https:\/\/ifintechworld.com\/?p=9010","og_site_name":"iFintechWorld","article_published_time":"2023-05-15T18:34:11+00:00","article_modified_time":"2023-05-15T18:34:12+00:00","og_image":[{"width":900,"height":600,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/33dee2b561-media-library-.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=9010#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=9010"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Bakkt Crypto Platform for Institutional Investors Delists Several Digital Assets \u2013 Which Cryptos Are Facing the Axe?","datePublished":"2023-05-15T18:34:11+00:00","dateModified":"2023-05-15T18:34:12+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=9010"},"wordCount":488,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=9010#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=9010","url":"https:\/\/ifintechworld.com\/?p=9010","name":"Bakkt Crypto Platform for Institutional Investors Delists Several Digital Assets \u2013 Which Cryptos Are Facing the Axe? | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-15T18:34:11+00:00","dateModified":"2023-05-15T18:34:12+00:00","description":"Cryptocurrency platform Bakkt is removing support for 25 out of the 36 tokens offered by its recently-acquired trading platform Apex Crypto.Bakkt's","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=9010#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=9010"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=9010#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Bakkt Crypto Platform for Institutional Investors Delists Several Digital Assets \u2013 Which Cryptos Are Facing the Axe?"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/9010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9010"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/9010\/revisions"}],"predecessor-version":[{"id":9012,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/9010\/revisions\/9012"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/9011"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}