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Bakkt's SPAC shows how frothy the crypto markets have become

Quick Take

  • Some market insiders think Bakkt’s ambitious SPAC reflects the frothiness of both the crypto and SPAC markets.
  • It could lead to a flurry of other SPACs across the crypto industry.
Bakkt's near-term customer and revenue goals have raised eyebrows, but its SPAC suggests there is more crypto deal-making to come.

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