According to Deep Tide TechFlow, as reported by Crowdfund Insider, the well-known stock trading technology provider Apex Fintech is considering acquiring the cryptocurrency platform Bakkt (NYSE: BKKT). Notably, this potential deal comes two years after Bakkt acquired Apex's crypto business for up to 200 million dollars in 2022. Following the announcement, Bakkt's stock price surged about 15% in early trading, reaching 14.86 dollars.
Bakkt was founded in August 2018 by the Intercontinental Exchange (ICE) and has received support from companies such as Microsoft, Starbucks, and the Boston Consulting Group, aiming to manage digital assets through a regulated platform. Although its stock price soared to 42 dollars after a SPAC merger in October 2021, the company subsequently faced fierce competition from rivals like Coinbase and Binance, and its market capitalization has fallen to 175 million dollars.