A spokesperson stated that the delisting was a reaction to "the most up-to-date regulatory guidance and the latest industry developments". The decision is likely related to mounting industry pressure, and statements from SEC Chair Gary Gensler that most crypto assets are securities.
The American corporation Bakkt recently acquired Apex Crypto, a Chicago-based crypto trading service. Bakkt shares a majority owner with the New York Stock Exchange. Shortly after the deal closed, Bakkt delisted 70% of the tokens on the platform, including major tokens Aave (AAVE), ApeCoin (APE), Avalanche (AVAX), Chainlink (LINK), Fantom (FTM), Filecoin (FIL),[d] Maker DAO (MKR), Stellar (XLM), and others.