Crypto Flash: BAKKT RAISES $182.5M FROM MICROSOFT AND OTHER BIG-NAME INVESTORS

Hi Steemians,

Bakkt on Monday announced the completion of its first funding round, to the tune of $182.5 million. The platform which aims to offer the first-ever Bitcoin-settled futures contracts in the coming year says it is going ahead with its plans irrespective of the current market conditions.

In a Medium post published on Monday (Dec. 31, 2018) by the Bakkt CEO, Kelly Loeffler, the company announced that it had successfully carried out its first funding round. According to the announcement, 12 investors participated in the capital raising exercise.

The CEO notes the investors including some big names, namely:

The partners and investors in the first round include Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, M12, Pantera Capital, PayU, the fintech arm of Naspers, and Protocol Ventures.

Very excited to have participated in @Bakkt’s first round of funding. We anticipate Bakkt to emerge as a leading digital asset exchange and trusted institutional-grade custodian in the developing #crypto market. https://t.co/79LX6gTXP8

— Pantera Capital (@PanteraCapital) December 31, 2018

BAKKT POSTPONED FROM JANUARY TO ‘EARLY 2019’

The official statement published on December 31, reads:

Following consultation with the Commodity Futures Trading Commission, ICE Futures U.S., Inc. expects to provide an updated launch timeline in early 2019, for the trading, clearing and warehousing of the Bakkt Bitcoin (USD) Daily Futures Contract. The launch had previously been set for January 24, 2019, but will be amended pursuant to the CFTC’s process and timeline.

Ref: https://bitcoinist.com/bakkt-raises-182-bitcoin-microsoft/

Cheers