US institutional platform Bakkt will delist Solana (SOL), Polygon (MATIC), and Cardano (ADA) tokens due to “regulatory uncertainty.” This was announced by the company’s general counsel Mark D’Annunzio in an interview with Fortune.
The company will take the necessary security measures until there is “clearness regarding eligibility to offer a broader list of coins,” he explained.
The head of the company noted that he would continue to cooperate with the authorities, but predicted even more possible problems in the future.
The regulatory panic among crypto companies began after the SEC lawsuits against Binance and Coinbase. The agency accused the exchanges of trading unregistered securities.
Previously, Bakkt offered a modest set of digital assets, limited only to Bitcoin and Ethereum. To expand the list of coins, the company acquired the Apex Crypto trading platform in April 2023.
However, after half a month, the firm delisted 25 of the 36 available DeFi tokens, including Aave (AAVE), Avalanche (AVAX), Cosmos (ATOM), Fantom (FTM), Filecoin (FIL), Gala (GALA), Sushiswap (SUSHI) and Uniswap (UNI).
Bakkt has been listed on the New York Stock Exchange since October 2021. As a result of the session on June 15, the quotes of the platform’s securities increased by 1.79% to $1.425.
On May 11, the institutional platform released its financial results report for the first three months of 2023. The quarterly loss was $0.17 per share, net income reached $13 million, up 4% year-on-year.
Source: bitcoinlinux.com
