Apex Fintech weighs potential acquisition of Bakkt, Axios reports

Apex Fintech is weighing a possible acquisition of Bakkt (BKKT), a spinoff of Intercontinental Exchange (ICE) that bought out Apex’s crypto operations two years ago, Axios reported. Apex, which embeds stock trading into other apps, agreed to sell that business to Bakkt in 2022 in part because of the heavy regulatory scrutiny on crypto at the time, the report noted. Shares of Bakkt have jumped 15% in morning trading to $14.86 following Axios’ report.