Crypto firm Bakkt jumps after report Apex Fintech weighing acquisition

Bakkt

05/03/2025 17:02

** Shares of crypto trading firm Bakkt BKKT.N jump as much as 28%; last up 21% at $15.60

** Apex Fintech is weighing a potential acquisition of BKKT, Axios reports, adding that it was unclear how serious talks are

** BKKT did not immediately respond to a Reuters request for comment

** BKKT, backed by NYSE-owner Intercontinental Exchange ICE.N, has a market cap of $176.2 million as of last close - data compiled by LSEG

** Last year, Donald Trump's social media company was reportedly in advanced talks to buy BKKT

** BKKT had acquired Apex's cryptocurrency platform in a deal valued at up to $200 million in 2023

** Founded in 2018, BKKT debuted as a public company in 2021

** BKKT shares down 34.9% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))