Intercontinental Exchange's cryptocurrency company, Bakkt, has announced it will be delisting a number of notable tokens, including Aave (AAVE), Avalanche (AVAX), Compound (COMP) and Uniswap (UNI). This action was taken following an analysis of existing regulatory guidance and industry developments which deemed these assets to no longer be suitable for trading.

The move comes as part of Bakkt's continued evolution from a retail crypto trading platform to a B2B crypto-focused service. In November of 2020, the company acquired Apex Crypto for $200 million and is expected to complete the closing of the deal sometime around the first half of the year 2023.

Just last year, Bakkt decided to shutter their consumer crypto trading application they had been running for the last two years. As one might expect, the decision hasn't been great for their overall market share as the exchange saw a 10% decline in its quarterly revenues relative to previous forecasts. This decline is also coupled with a 3.45% drop in Bakkt's share price with respect to the rest of the market.

Despite these setbacks on the exchange side, the decided delisting of these tokens reflects Bakkt's commitment to the safety and security of their users. By regularly monitoring regulatory guidance and keeping a pulse on the cryptocurrency space, the platform will maintain its listing of tokens that meet the highest standards required for trading. This assurance of security for the customers is expected to ensure Bakkt continues to make strides in the market and defends its place as a top exchange for digital assets.



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