Bakkt confirms no exposure to FTX, FTT, Alameda or other affected companies

ALPHARETTA, Ga.--(BUSINESS WIRE)--Bakkt Holdings, Inc. (NYSE: BKKT) announced today that it has no exposure to FTX, FTT, Alameda, Gemini, Genesis, or companies that have halted activities due to ongoing contagion in the crypto markets. Consumers on the Bakkt platform continue to have access to their crypto and can buy or sell as usual, and Bakkt’s institutional platform also continues to be fully operational. As shared in a blog post published earlier this week, Bakkt takes a conservative approach to risk, avoiding lending, rehypothecation, leverage and illiquid positions.

“As contagion among crypto companies has continued to spread this week, we wanted to confirm that we have no exposure to affected companies and continue to operate all aspects of our business as usual,” said Gavin Michael, CEO of Bakkt. “As a publicly-traded U.S. company, we have opted to be regulated in the most comprehensive way available for a company in this space. It’s shameful to see the fraud that was perpetrated and its impact on the lives and businesses of many. These latest developments only strengthen my belief that there is an important role for Bakkt as an experienced, regulated player that enables crypto access in a thoughtful and responsible way.”