One of the most prominent US-based crypto firms today, Bakkt, states that it has no plans to support Ripple (XRP) at any capacity moving forward. Although Bakkt CEO Gavin Michael did not explicitly state this decision’s true nature, one can easily assume that it has something to do with Ripple’s ongoing controversy-filled legal battle against the SEC.
It was on the January 11th edition of the Axios Re:Cap podcast wherein Michael discussed the future of Bakkt, as well as the rapid mainstream adoption of digital assets, especially Bitcoin (BTC), these past weeks. As per the CEO, Bakkt is aiming to capitalize on this increased crypto momentum by rolling out support for various altcoins in addition to BTC in the near future. However, when asked why the firm left out XRP, Michael simply stated that the particular crypto is just not for their platform.
It is clear to see that the CEO is trying to dodge the subject, perhaps doing his best to keep Bakkt away from all the controversies surrounding the XRP as of yet.
Gavin Michael’s remarks regarding the firm’s future and XRP closely follow Bakkt’s announcement of going officially public. As Coinmod reported this past January 12th, the US crypto firm is set to merge with VPC Impact Acquisition Holdings as part of the $2 billion deal, wherein it will now be allowed to publicly launch on stock markets under the name: “Bakkt Holdings.”