{"id":80355,"date":"2023-06-16T17:40:54","date_gmt":"2023-06-16T14:40:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80355"},"modified":"2025-09-11T16:31:26","modified_gmt":"2025-09-11T13:31:26","slug":"bakkt-to-delist-solana-polygon-and-cardano","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bakkt-to-delist-solana-polygon-and-cardano\/","title":{"rendered":"Bakkt to Delist Solana, Polygon and Cardano"},"content":{"rendered":"<p>The American institutional platform Bakkt will delist the tokens <a href=\"https:\/\/forklog.com\/en\/news\/what-is-solana-sol\">Solana<\/a> (SOL), <a href=\"https:\/\/forklog.com\/en\/news\/what-is-polygon-matic\">Polygon<\/a> (MATIC) and <a href=\"https:\/\/forklog.com\/en\/news\/what-is-cardano-ada\">Cardano<\/a> (ADA) due to regulatory uncertainty. This was disclosed by the company&#8217;s chief legal officer, Mark D\u2019Annunzio, in an interview with <a href=\"https:\/\/fortune.com\/crypto\/2023\/06\/16\/bakkt-delists-solana-polygon-cardano-regulatory-clarity\/\">Fortune<\/a>.<\/p>\n<p>The firm will take the necessary precautions until there is clarity regarding the compliance requirements for offering a broader list of coins, he explained.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;It\u2019s normal to say what pushes me over the edge. But you\u2019re obliged to tell me what to do,&#8221; said Bakkt CEO Gavin Michael, likely addressing regulators.<\/p>\n<\/blockquote>\n<p>The head of the firm said it would continue to cooperate with authorities, but foresaw even more potential problems down the line.<\/p>\n<p>Regulatory panic among crypto firms began after lawsuits by the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> against <a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-binance-and-changpeng-zhao\">Binance<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-coinbase-exchange\">Coinbase<\/a>. The agency accused the exchanges of trading unregistered securities.<\/p>\n<p>Earlier Bakkt offered a modest set of digital assets, limited to Bitcoin and Ethereum. To expand the list of coins, in April 2023 the company <a href=\"https:\/\/forklog.com\/en\/news\/bakkt-completes-acquisition-of-apex-crypto\">acquired<\/a> the trading platform Apex Crypto.<\/p>\n<p>However, after half a month the firm <a href=\"https:\/\/forklog.com\/en\/news\/bakkt-conducts-broad-delisting-of-defi-tokens-from-apex-crypto-platform\">delisted<\/a> 25 of 36 available DeFi tokens, including <a href=\"https:\/\/forklog.com\/en\/news\/what-is-aave\">Aave<\/a> (AAVE), <a href=\"https:\/\/forklog.com\/en\/news\/what-is-avalanche-avax\">Avalanche<\/a> (AVAX), <a href=\"https:\/\/forklog.com\/en\/news\/what-is-cosmos-atom\">Cosmos<\/a> (ATOM), <a href=\"https:\/\/forklog.com\/en\/news\/what-is-fantom-ftm\">Fantom<\/a> (FTM), <a href=\"https:\/\/forklog.com\/en\/news\/filecoin-fil-how-the-decentralised-storage-blockchain-works\">Filecoin<\/a> (FIL), Gala (GALA), Sushiswap (SUSHI) and <a href=\"https:\/\/forklog.com\/en\/news\/what-is-uniswap-uni\">Uniswap<\/a> (UNI).<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-06-16-v-16.56.15.webp\" alt=\"Snimok-ekrana-2023-06-16-v-16.56.15\" class=\"wp-image-209492\"\/><figcaption>Bakkt delistings chronology. Data: Fortune.<\/figcaption><\/figure>\n<p>Since October 2021, Bakkt shares have traded on the New York Stock Exchange. Following the close on June 15, the platform&#8217;s stock price rose 1.79% to $1.425.<\/p>\n<p>Earlier, on May 11, the institutional platform <a href=\"https:\/\/bakkt.com\/newsroom\/bakkt-reports-first-quarter-2023-results-bakkt\">published<\/a> its financial results for the first quarter of 2023. The quarterly loss was $0.17 per share, net income reached $13 million, up 4% year over year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bakkt will delist Solana (SOL), Polygon (MATIC) and Cardano (ADA) due to regulatory uncertainty.<\/p>\n","protected":false},"author":1,"featured_media":80356,"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":[780,1286,36],"class_list":["post-80355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bakkt","tag-listing","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80355","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=80355"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80355\/revisions"}],"predecessor-version":[{"id":80357,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80355\/revisions\/80357"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80356"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}