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Tuesday March 21st, 2023 3:57AM

Bakkt confirms no exposure to FTX, FTT, Alameda or other affected companies

By The Associated Press

ALPHARETTA, Ga.--(BUSINESS WIRE)--Nov 17, 2022--

Bakkt Holdings, Inc. (NYSE: BKKT) announced today that it has no exposure to FTX, FTT, Alameda, Gemini, Genesis, or companies that have halted activities due to ongoing contagion in the crypto markets. Consumers on the Bakkt platform continue to have access to their crypto and can buy or sell as usual, and Bakkt’s institutional platform also continues to be fully operational. As shared in a published earlier this week, Bakkt takes a conservative approach to risk, avoiding lending, rehypothecation, leverage and illiquid positions.

“As contagion among crypto companies has continued to spread this week, we wanted to confirm that we have no exposure to affected companies and continue to operate all aspects of our business as usual,” said Gavin Michael, CEO of Bakkt. “As a publicly-traded U.S. company, we have opted to be regulated in the most comprehensive way available for a company in this space. It’s shameful to see the fraud that was perpetrated and its impact on the lives and businesses of many. These latest developments only strengthen my belief that there is an important role for Bakkt as an experienced, regulated player that enables crypto access in a thoughtful and responsible way.”

Earlier this month, Bakkt it reached a definitive agreement to acquire Apex Crypto LLC. Apex Crypto also does not have any direct exposure to FTX, Alameda or FTT. Apex Crypto has never had a relationship with FTX or Alameda and does not offer FTT as a tradable token on the Apex Crypto platform. Apex Crypto’s trading partners also do not have any material exposures to FTX. Apex Crypto, along with their liquidity providers, have no direct exposure to Genesis and no material exposure to Gemini.

Bakkt is a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a broad range of clients. Bakkt’s platform, available through partners, amplifies consumer spending and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem. Launched in 2018, Bakkt is headquartered in Alpharetta, GA. For more information, visit: | Twitter @Bakkt | LinkedIn

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View source version on businesswire.com:

CONTACT: Investor Relations

Ann DeVries, Head of Investor Relations

[email protected]

Media

Lauren Post, Head of Communications

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KEYWORD: GEORGIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES TECHNOLOGY CRYPTOCURRENCY FINANCE BANKING DIGITAL CASH MANAGEMENT/DIGITAL ASSETS

SOURCE: Bakkt Holdings, Inc.

Copyright Business Wire 2022.

PUB: 11/17/2022 08:15 AM/DISC: 11/17/2022 08:16 AM

http://www.businesswire.com/news/home/20221117005712/en

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