{"id":78700,"date":"2023-05-14T09:47:13","date_gmt":"2023-05-14T06:47:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78700"},"modified":"2025-09-11T06:48:46","modified_gmt":"2025-09-11T03:48:46","slug":"bakkt-conducts-broad-delisting-of-defi-tokens-from-apex-crypto-platform","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bakkt-conducts-broad-delisting-of-defi-tokens-from-apex-crypto-platform\/","title":{"rendered":"Bakkt conducts broad delisting of DeFi tokens from Apex Crypto platform"},"content":{"rendered":"

The institutional platform Bakkt has delisted from Apex Crypto, which it had previously acquired, the majority of DeFi tokens. The rationale given was a desire to comply with regulatory requirements, according to CoinDesk<\/a>, citing a company spokesperson.<\/p>\n

closed the<\/a> deal to acquire Apex Crypto in April 2023. The latter is a platform for integrated cryptocurrency trading that provides trade execution, clearing, and also offers custody services and a tax-calculation service.<\/p>\n

The company delisted 25 of the 36 assets previously available, including Aave (AAVE), Avalanche (AVAX), Cosmos (ATOM), Fantom (FTM), Filecoin (FIL), GALA (GALA), Sushiswap (SUSHI) and Uniswap (UNI).<\/p>\n

\n

\u00abFollowing the closing of the acquisition of Apex Crypto, as part of our regular asset-listing review process, we decided to remove a number of coins from the list. [\u2026] The review process ensures the best alignment with [clients’] interests when we consider the latest regulatory guidance and industry developments,\u00bb said a Bakkt spokesperson in a conversation with CoinDesk.<\/p>\n<\/blockquote>\n

The deal with Apex Fintech Solutions (the former owner of Apex Crypto) was part of the company’s transition to a B2B<\/span> model. In February the platform closed<\/a> the retail cryptocurrency trading app.<\/p>\n

On May 11, Bakkt published<\/a> its results for the first quarter of 2023. The quarterly loss was $0.17 per share, net income reached $13 million, which below<\/a> consensus forecast of some analysts. At the same time the latest figure rose by 4% year over year.<\/p>\n

According to the document, Apex Crypto’s projected gross revenue for the full year 2023 is expected to be in the range of $1.874 billion to $2.376 billion. At the time of the acquisition it serviced more than 5.8 million accounts.<\/p>\n

Since October 2021, Bakkt shares have traded<\/a> on the New York Stock Exchange (NYSE), which is operated by its parent company ICE<\/span>. By the close of the May 12 session, the platform’s securities fell<\/a> by nearly 7%.<\/p>\n

Against regulatory uncertainty in the United States, many cryptocurrency firms are leaving the country or scaling back their services.<\/p>\n

As Bloomberg journalists reported in May 2023, some of the world’s largest market makers Jane Street and Jump Trading would cease trading digital assets in the United States<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The institutional Bakkt platform delisted most of the DeFi tokens from Apex Crypto, which it had previously acquired.<\/p>\n","protected":false},"author":1,"featured_media":78701,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[780,1166,1286,596],"class_list":["post-78700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bakkt","tag-centralized-exchanges-cex","tag-listing","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"39","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=78700"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78700\/revisions"}],"predecessor-version":[{"id":78702,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78700\/revisions\/78702"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78701"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}