Intercontinental Exchange (ICE) is taking a $1.1 billion write-off for its holdings of crypto platform Bakkt (BKKT) according to an SEC filing late Friday afternoon.
Atalanta-based Bakkt, which offers crypto and other digital assets to institutional investors, is taking a $1.3 to $1.4 impairment on a loss of goodwill in addition to $150 to $160 million on its intangible assets.
Cryptocurrencies are considered intangible assets based on Generally Accepted Principles of Accounting (GAAP),…
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