Bakkt is the digital assets firm majority-owned by ICE, which also owns the NYSE. Today a Bloomberg report cited unnamed sources that said Bakkt is in advanced talks to merge with a listed special purpose acquisition vehicle (SPAC) VPC Impact Acquisition Holdings.
VPC is associated with Victory Park Capital, which raised around $200 million and yesterday had a market capitalization of $270 million. The combined value of the two firms is thought to be around $2 billion.
So what does Bakkt do and why float now?
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