Bitcoin Bakkt’s regulated futures platform is in talks to merge with VPC Impact Acquisition Holdings.
Bakkt, Intercontinental Exchange’s majority owned cryptomoney trading platform, is rumored to be in deep talks to go public through a merger with VPC Impact Acquisition Holdings.
On January 7, Bloomberg broke a story citing anonymous sources „with knowledge of the matter“ who said Bakkt is already in advanced talks regarding the merger, predicting that an official announcement on the matter could be made next week.
The sources estimate that the combined entity could be worth more than $2 billion if the merger is completed.
VPC is a special purpose acquisition company affiliated with Victory Park Capital, an SEC-registered alternative investment firm. VPC’s CEO, John Martin, has described the company’s core strategy as „identifying, partnering with and helping grow a technology business.
Bakkt was launched in 2019 and is a regulated, institutional platform that offers a „physically delivered“ Bitcoin Lifestyle futures contract. The exchange’s futures generated a trading volume of $286 million during the past week.
Bakkt’s founding CEO and outgoing U.S. Senator Kelly Loeffler lost the Georgia runoff election on January 6.