Bakkt Attracts $300 Million Funding as Bitcoin Sell-off Continues

Crypto derivatives provider Bakkt raised $300 million in its latest financing round even as its core portfolio asset bitcoin suffered huge losses amidst the Coronavirus-led sell-off.
According to the announcement, penned by Bakkt’s CEO Mike Blandina, Intercontinental Exchange, PayU, Microsoft’s M12, Goldfinch Partners, Boston Consulting Group, Pantera Capital, and CMT Digital all contributed to the series B. Mr. Blandina confirmed that they would use the proceeds to build and pr