Crypto Exchange Bakkt Nears Merger With Victory Park SPAC: Bloomberg

Cryptocurrency exchange Bakkt, which is majority-owned by Intercontinental Exchange (ICE), is in advanced talks to go public via a merger with a special purpose acquisition company (SPAC), Bloomberg reported, citing people with knowledge of the matter.

The deal, if it's concluded, would value the combined company at more than $2 billion, the report said. A deal could be announced as soon as next week.
The SPAC that would merge with Bakkt, VPC Impact Acquisition Holdings, is affiliated with Victory Park Capital.
Officials from each company declined to comment, Bloomberg said.
U.S. Sen. Kelly Loeffler, one of the two losers of Georgia's special runoff election earlier this week, was Bakkt's founding CEO.

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