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Crypto Exchange Bakkt Nears Merger With Victory Park SPAC: Bloomberg
A deal could be announced as soon as next week, the report said.
Cryptocurrency exchange Bakkt, which is majority-owned by Intercontinental Exchange (ICE), is in advanced talks to go public via a merger with a special purpose acquisition company (SPAC), Bloomberg reported, citing people with knowledge of the matter.
STORY CONTINUES BELOW
- The deal, if it's concluded, would value the combined company at more than $2 billion, the report said. A deal could be announced as soon as next week.
- The SPAC that would merge with Bakkt, VPC Impact Acquisition Holdings, is affiliated with Victory Park Capital.
- Officials from each company declined to comment, Bloomberg said.
- U.S. Sen. Kelly Loeffler, one of the two losers of Georgia's special runoff election earlier this week, was Bakkt's founding CEO.
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
