Blank cheque firm VPC Impact (NASDAQ: VIH) shares are climbing on Friday after a Bloomberg report that they are nearing a merger with crypto exchange Bakkt.
Bloomberg said that according to people with knowledge of the matter, the transaction is set to value the combined entity at more than $2 billion and there could be an announcement next week.
Bakkt was founded in 2018 with its headquarters in the US state of Georgia. The company is majority-owned by Intercontinental Exchange Inc, an American Fortune 500 company that operates global exchanges, clearinghouses, and provides mortgage technology, data and listing services.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Investors in Bakkt include ICE, Microsoft’s M12, PayU, Boston Consulting Group, and Pantera Capital.
VPC Impact is a Special Purpose Acquisition Company (SPAC) led by CEO John Martin. They went public in November 2020, raising around $200 million in the process.
VPC shares are up 65.42% following the news, at $17.22.
