NYSE operator’s crypto project Bakkt brings in $182M

INSUBCONTINENT EXCLUSIVE:
equity round from a slew of notable institutional investors
ICE, the operator of several global exchanges, including the New York Stock Exchange, established Bakkt to build a trading platform that
not a token sale
The startup initially planned for a November 2018 launch, but confirmed this morning an earlier CoinDesk report that it was delaying the
trusted and regulated applications for consumers to convert their digital assets into U.S
floundered in 2018, despite record amounts of venture capital invested in the industry
This was as a result of failed initial coin offerings, an inability to scale following periods of rapid growth and the falling price of
Bitcoin
a nearly 4x increase year-over-year
as daily bitcoin transaction value and active addresses
at roughly $20,000
The crash caused many to dismiss Bitcoin and its underlying technology, while others remained committed to the tech and its potential for
complete financial disruption
A project like Bakkt, created in-house at a respected financial institution with support from noteworthy businesses, is a logical bet for
Twenty years ago, it was controversial to suggest that commodities or bonds could trade electronically on a screen, and many steps were