Apex Fintech is considering acquiring Bakkt

On March 10th, Axios reported that Apex Fintech, a financial technology company focused on embedding stock trading in applications, is considering acquiring Bakkt, the crypto platform originally spun off from Intercontinental Exchange (ICE).

It is worth noting that this potential acquisition comes two years after Bakkt acquired Apex's crypto business for up to $200 million in 2022. At that time, the deal seemed to be driven by the strict regulation of the Biden administration.

After Axios' report was released, Bakkt's stock price rose by about 15% in early trading, reaching $14.86, and market attention increased significantly.