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SEC Documents Reveal Coinbase and Bakkt Act as Custodians for Paul Tudor

Paul Tudor was one of the few early hedge fund managers to get lured into Bitcoin. SEC filings have finally revealed he has been using Coinbase and Bakkt. As two of the leading firms in the US, they have become institutional powerhouses.When most institutions make crypto investments, more often than not, they do not reveal which brokerage firm they use or they made direct purchases. With American billionaire hedge fund manager Paul Tudor, this was the case. In May of 2020 Tudor bet 1% to 2%...

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Bakkt Has Launched its Bitcoin App and Announced Starbucks Partnership

Bakkt, the Bitcoin futures platform launched and operated by the Intercontinental Exchange (ICE), has released its long-anticipated application. Dubbed Bakkt App, it would enable customers to interact with BTC and other crypto assets directly through the platform. Additionally, the company has partnered with several notable firms, including Best Buy and Starbucks. Bakkt App Arrives Launched in 2018, Bakkt enables institutional and accredited investors to receive BTC exposure...

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Bakkt Becomes the 29th Crypto Company to Receive BitLicense Approval by NYDFS

The New York State Department of Financial Services (NYDFS) has announced that Bakkt Marketplace has become the 29th cryptocurrency company to receive BitLicense since 2015. This approval comes amid the firm’s endeavors to be publicly listed and to launch the long-anticipated Bakkt App. The NYDFS started granting such licenses to digital asset businesses in 2015, with the first one being Paxos. Earlier today, the organization announced the latest company to receive the coveted BitLicense –...

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Coinbase to Go Public Through a Direct Listing Instead of an IPO

The largest US-based cryptocurrency exchange Coinbase plans to go for a Direct Public Listing (DPO) of its Class A common stock. The firm expects the Form S-1 filed with the US Securities and Exchange Commission to become effective after the Commission completes its review.Coinbase Aims For Direct Public ListingCryptoPotato reported in December that the San Francisco, California-based had submitted a draft registration with the SEC to go public with an initial public offering (IPO). Early...

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Crypto Platform Bakkt Introduces Plan to Combine All Digital Rewards

Digital rewards systems are not necessarily new, but they’re far from being the “norm,” and let’s face it. They can be rather hard to keep track of considering how many separate platforms exist. Institutional cryptocurrency trading platform Bakkt is looking to change all that.Bakkt Is Back and Looking to Revolutionize Digital RewardsBakkt first came to “prominence” in late 2019. Following a whole year of advertising, the trading platform experienced several delays in its release and was...

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Following Coinbase And Bakkt: Winklevoss’ Gemini Reportedly Considers Going Public

Cameron and Tyler Winklevoss are reportedly exploring the option of making their cryptocurrency exchange Gemini public. The brothers could follow the steps of other US-based digital asset-related companies with similar intentions, such as Coinbase and Bakkt.Gemini To Go Public?Bloomberg reported today that the founders of the US-based crypto exchange Gemini are open to the idea of going public.“We are definitely considering it and making sure that we have that option. We are watching the...

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Bakkt CEO Confirms Firm Has No Plans to Support XRP

The move from Bakkt further complements the decision of Coinbase and other exchanges including Binance US, OKCoin which had removed XRP coin from their platforms.Bakkt, the digital asset marketplace backed by Intercontinental Exchange Inc, has revealed that it has no plans to support XRP coin, the digital asset closely associated with blockchain-based payment firm Ripple Labs Inc. Per a report from Cointelegraph, the no-plan prospects for XRP coin by Bakkt was revealed by the company’s Chief...

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Bakkt Projects $3T for Crypto Market Pending Their New Deal 

Bakkt projects an all-round growth with a 75% surge in revenue by 2025. This means the value will be around $515 billion with a cash-flow positive expected to take effect in 2023. On January 8, 2021, Bitcoin staged an unprecedented bull run to trade around $41,941 dominating the cryptocurrency market that was enjoying a record market cap of $1.1 trillion. The high addition of gains within a very short time coupled with the trillion market cap got some investors worried over what they claimed...

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It’s Official: Bitcoin Futures Platform Bakkt Going Public at $2.1 Billion Valuation

The Bitcoin futures platform launched in 2018 by Intercontinental Exchange (ICE) has entered into a “definitive agreement” for business cooperation that will lead to becoming a publicly-traded company with an enterprise value of over $2 billion. The company has also appointed a new CEO.Reports emerged last week suggesting that Bakkt was negotiating a strategic merger with VPC Impact Acquisitions Holdings to go public. Either company failed to deny or confirm the rumors until earlier...

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ICE-Owned Bakkt Nears Merger with Victory Park SPAC

Via this prospective merger deal, the Intercontinental Exchange (ICE)-backed Bakkt platform has joined the narrow list of blockchain and crypto-related firms eyeing a public listing.Bakkt, the cryptocurrency platform majority-owned by Intercontinental Exchange Inc (NYSE: ICE), is on the verge of completing a merger with Victory Park Special Purpose Acquisition Company (SPAC) according to a Bloomberg report citing sources familiar with the negotiations.The merger if successful will help push...

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