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Bakkt, the crypto business of Intercontinental Exchange, has been compelled to delist numerous digital assets, including prominent decentralized finance (DeFi) tokens, due to regulatory guidance and industry developments.

The tokens that have been de-listed include Aave (AAVE), Avalanche (AVAX), Bancor Network Token (BNT), Basic Attention Token (BAT), Chainlink (LINK), Chiliz (CHZ), Compound Token (COMP), Cosmos (ATOM), Curve DAO (CRV), Enjin Coin (ENJ), Fantom (FTM), Filecoin (FIL), GALA (GALA), The Graph (GRT), Internet Computer (ICP), Loopring (LRC), Maker DAO (MKR), Republic (REN), Stellar (XLM), Sushiswap (SUSHI), Synthetix (SNX), Texos (XTZ), and Uniswap (UNI).

“Following the closing of our acquisition of Apex Crypto and as part of our regular coin listing review process, we have made the decision to delist a number of coins on the platform,” a spokesperson for the exchange told CoinDesk. “Our clients’ and their consumers’ best interests are our core commitment, and our review process ensures those interests are best served when we contemplate the most up-to-date regulatory guidance and the latest industry developments.”

In November, Bakkt reached an agreement to acquire Apex Crypto, and the transaction was finalized on April 1st.

According to a statement from a spokesperson, Bakkt has entered into an agreement to acquire Apex Crypto for a maximum purchase price of $200 million. The initial payment of $55 million has already been made upon the deal's closure, and the remaining amount of up to $145 million will be paid in Bakkt stock, subject to Apex's financial performance reaching certain targets by 2025.

As a part of the company's move away from retail and towards B2B, this acquisition comes after the recent closure of its consumer crypto trading app that lasted for two years.

The exchange has faced difficulties in establishing itself in the market and attracting a significant number of traders, as evidenced by its last quarter's revenues of $13 million, which were 10% lower than the average analyst estimate.

Bakkt's stock has recorded a 3.45% year-to-date increase, however, it has also experienced a decline of almost 40% in the past six months.

Source Coindesk