Cardano (ADA), Solana (SOL) and Polygon (MATIC) to Be Removed from Bakkt. Here's Why

.Bakkt continues its altcoin delisting spree

This surprising decision follows Bakkt's $155 million acquisition of Apex Crypto, a development that significantly expanded Bakkt's altcoin offerings.

Bakkt has cited the increasingly uncertain regulatory landscape as the catalyst for this move. The company intends to gain a clearer understanding of regulatory measures for listing additional cryptocurrencies. Recent lawsuits filed by the U.S. Securities and Exchange Commission against prominent cryptocurrency behemoths Binance and Coinbase have evidently influenced this decision.

The SEC has leveled allegations that SOL, MATIC, and ADA — the cryptocurrencies that Bakkt is preparing to delist — are actually unregistered securities. Notably, this is not Bakkt's first instance of delisting; the platform previously removed other significant tokens such as Aave, Avalanche, and Compound in May.

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