CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$47,739.00
  • ethereum
    ETH$1,508.83
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » Bitcoin Futures Platform Bakkt Reportedly Planning To Go Public at a $2 Billion Valuation

    Bitcoin Futures Platform Bakkt Reportedly Planning To Go Public at a $2 Billion Valuation

    Author: Jordan Lyanchev

    Last Updated Jan 8, 2021 @ 09:28

    While Bakkt’s former CEO has officially lost her Senate seat, the company is reportedly in talks for a merger that will allow it to go public.

    Bakkt, the Bitcoin futures platform owned and operated by Intercontinental Exchange (ICE), is reportedly planning to go public after a merger with the Chicago-based blank-check company VPC Impact Acquisition Holdings.

    Bakkt To Go Public?

    By citing “people with knowledge of the matter,” Bloomberg reported the news earlier, saying that the Bitcoin futures platform is already in talks with VPC Impact Acquisition Holdings.

    Should both parties indeed proceed with the deal, the sources estimated that the combined entity could have a value of over $2 billion.

    Furthermore, the potential deal could be just around the corner, as the report suggested it might take place next week.

    VPC is registered with the US Securities and Exchange Commission (SEC) and incorporated in the Cayman Islands state. According to the registration page, the company is “primarily in the business of blank checks.”

    The firm raised $200 million in an initial public offering in September 2020. John Martin, CEO and Chairman of VPC, said that the team had established a value-creation strategy to “identify, partner with, and help grow a business in the fintech sector.”

    Bakkt’s potential IPO comes just a few weeks after another cryptocurrency-related company announced similar plans. The largest US-based exchange Coinbase filed a Form S-1 in December with the SEC, and its valuation is estimated to be nearly $30 billion.

    Bakkt Former CEO Loses Senate Seat

    While Bakkt’s interim CEO David Clifton could lead the company to go public, the firm’s former CEO suffered a crushing loss this week.

    Kelly Loeffler occupied the executive position at the Bitcoin futures platform since its inception until she vacated the post once Georgia Governor Brian Kemp chose her to take the Senate seat in December 2019.

    However, she will leave the post just a year after becoming the state’s Senator. APNews first reported that Democrat Raphael Warnock had won one of the two Senate runoffs to become Georgia’s first African-American senator. While Loeffler maintained initially that the results weren’t final, she conceded a day later.

    Her loss came despite President Donald Trump’s attempts to rally his loyal base behind Loeffler and the Republican running for the other seat – David Perdue. Bakkt’s former CEO had previously expressed her “full support” for President Trump prior to the Presidential elections in November 2020.

    Although Loeffler was in office for just a year, she managed to attract controversy shortly after her start. Reports emerged that she was involved in inside trading as she had sold a significant stash of her stocks on January 24th, 2020. She reportedly disposed of her shares after a private briefing that discussed the potential consequences of the COVID-19 pandemic on the financial markets.

    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

    You Might Also Like:

    • bitcoin_lava_flow_cover
      CNBC's Brian Kelly Reveals Why Bitcoin Could Head For A Short-term Correction
    • MicroStrategy Wants to Offer $400 Million in Convertible Notes to Buy More Bitcoin
    • BitcoinEthereumSquarePayPal
      PayPal and Square Are Buying Every New Mined Bitcoin... And More
    Read more on: Bakkt Bitcoin Kelly Loeffler

    About The Author

    Jordan Lyanchev View more posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$47,739.00
  • ethereum
    ETH$1,508.83
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!