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),… Source link
Read More »Mastercard, Bakkt offer crypto-based credit, debit cards
Cryptocurrency exchange Bakkt is partnering with Mastercard (MA) to offer crypto debit and credit cards, making it easier for consumers to pay using digital coins. Via Mastercard and Bakkt (), businesses and banks will be able to issue their own branded crypto debit and credit cards to consumers who want them. Holders can use bitcoin purchased through Bakkt with the card, or link to a fiat-based funding source, and receive bitcoin rewards. Bakkt’s stock, which publicly listed on the NYSE on… Source link
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