Bakkt raises Series A at valuation topping $700 million138

Bakkt, ICE’s yet-to-launch crypto exchange, is being valued at around $740 million following a recent Series A round of funding, sources close to the project tell The Block.

The exchange raised $182.5 million in its initial round, for which it hoped to attract institutions. Its approximate $740 million post-money valuation means ICE may have sold up to 25% of shares to external investors like Galaxy, Pantera, Microsoft and Starbucks – the latter having contributed no capital in return.

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