| PUBLIC-PLATFORM-LLC |
PUBLIC-PLATFORM-LLC |
90%
|
Public represented approximately 17 % of the Company’s crypto services revenue for the year ended December 31, 2025. |
| WEBULL-PAY-LLC |
WEBULL-PAY-LLC |
90%
|
For the year ended December 31, 2025, Webull represented approximately 40 % of the Company’s Crypto services revenue. |
| APEX-CRYPTO-LLC |
APEX-CRYPTO-LLC |
62%
|
uisition of Bumped Financial, LLC — — (631) Acquisition of Apex Crypto LLC, net of cash acquired — — (47,902) Net cash provided by (used in) investing activities: (38,122) 14,134 65,970 Cash flows fr… |
| B2S-RESALE-LLC |
B2S-RESALE-LLC |
62%
|
re digital assets via application programming interfaces or embedded web experience. The Company enables clients in various industries to provide their customers with the ability to transact in digit… |
| BAKKT-OPCO-HOLDINGS-LLC |
BAKKT-OPCO-HOLDINGS-LLC |
62%
|
at fair value each reporting period with changes recognized in net income (loss). Bakkt generally holds a nominal amount of each digital 21 Table of Contents asset it supports on its platform to faci… |
| BITCOIN-JAPAN-CORPORATION |
BITCOIN-JAPAN-CORPORATION |
62%
|
0 $ — $ 5,550 19 Table of Contents December 31, 2025 Weighted Average Useful Life (in years) Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Trademarks / trade names Ind… |
| BRIDGE2-SOLUTIONS-CANADA-LTD |
BRIDGE2-SOLUTIONS-CANADA-LTD |
62%
|
re digital assets via application programming interfaces or embedded web experience. The Company enables clients in various industries to provide their customers with the ability to transact in digit… |
| BRIDGE2-SOLUTIONS-LLC-ASPIRE-LOYALTY-TRAVEL-SOLU |
BRIDGE2-SOLUTIONS-LLC-ASPIRE-LOYALTY-TRAVEL-SOLU |
62%
|
re digital assets via application programming interfaces or embedded web experience. The Company enables clients in various industries to provide their customers with the ability to transact in digit… |
| BUMPED-FINANCIAL-LLC |
BUMPED-FINANCIAL-LLC |
62%
|
uisition of Bumped Financial, LLC — — (631) Acquisition of Apex Crypto LLC, net of cash acquired — — (47,902) Net cash provided by (used in) investing activities: (38,122) 14,134 65,970 Cash flows fr… |
| CLEAR-STREET-LLC |
CLEAR-STREET-LLC |
62%
|
Item 2 – Recent Developments – February 2026 Registered Direct Offering ” for further details. In January 2026, we established an at-the-market sales program (the "ATM Program") by entering into a Sa… |
| COMPANY-DISTRIBUTED-TECHNOLOGIES-RESEARCH-GLOBAL |
COMPANY-DISTRIBUTED-TECHNOLOGIES-RESEARCH-GLOBAL |
62%
|
at fair value each reporting period with changes recognized in net income (loss). Bakkt generally holds a nominal amount of each digital 21 Table of Contents asset it supports on its platform to faci… |
| COMPANY-SECURITIES-LLC |
COMPANY-SECURITIES-LLC |
62%
|
Item 2 – Recent Developments – February 2026 Registered Direct Offering ” for further details. In January 2026, we established an at-the-market sales program (the "ATM Program") by entering into a Sa… |
| CUSTODY-BAKKT-FINANCIAL-SOLUTIONS-I-LLC |
CUSTODY-BAKKT-FINANCIAL-SOLUTIONS-I-LLC |
62%
|
re digital assets via application programming interfaces or embedded web experience. The Company enables clients in various industries to provide their customers with the ability to transact in digit… |
| CYPRUS-BIVIDEN-LIMITED |
CYPRUS-BIVIDEN-LIMITED |
62%
|
at fair value each reporting period with changes recognized in net income (loss). Bakkt generally holds a nominal amount of each digital 21 Table of Contents asset it supports on its platform to faci… |
| DISTRIBUTED-TECHNOLOGIES-RESEARCH-GLOBAL-LTD |
DISTRIBUTED-TECHNOLOGIES-RESEARCH-GLOBAL-LTD |
62%
|
at fair value each reporting period with changes recognized in net income (loss). Bakkt generally holds a nominal amount of each digital 21 Table of Contents asset it supports on its platform to faci… |
| ICE |
Intercontinental Exchange, Inc. |
62%
|
Reciprocal relationship from ICE graph: Reciprocal relationship from BKKT graph: Reciprocal relationship from ICE graph: Reciprocal relationship from BKKT graph: at fair value each reporting period w… |
| INTERCONTINENTAL-EXCHANGE-HOLDINGS-INC |
INTERCONTINENTAL-EXCHANGE-HOLDINGS-INC |
62%
|
at fair value each reporting period with changes recognized in net income (loss). Bakkt generally holds a nominal amount of each digital 21 Table of Contents asset it supports on its platform to faci… |
| MARUSHOHOTTA-CO-LTD |
MARUSHOHOTTA-CO-LTD |
62%
|
0 $ — $ 5,550 19 Table of Contents December 31, 2025 Weighted Average Useful Life (in years) Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Trademarks / trade names Ind… |
| PROJECT-LABRADOR-HOLDCO-LLC |
PROJECT-LABRADOR-HOLDCO-LLC |
62%
|
al Services ("NYDFS"), which subjects it to NYDFS’s oversight with respect to business activities conducted in New York State and with New York residents, and is required to maintain a capital balanc… |
| RIZAP-GROUP-INC |
RIZAP-GROUP-INC |
62%
|
0 $ — $ 5,550 19 Table of Contents December 31, 2025 Weighted Average Useful Life (in years) Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Trademarks / trade names Ind… |
| ROTH-CAPITAL-PARTNERS-LLC |
ROTH-CAPITAL-PARTNERS-LLC |
62%
|
Item 2 – Recent Developments – February 2026 Registered Direct Offering ” for further details. In January 2026, we established an at-the-market sales program (the "ATM Program") by entering into a Sa… |
| UNAUDITED-BAKKT-INC |
UNAUDITED-BAKKT-INC |
62%
|
uncertainties indicated in the Company’s filings with the SEC, including its most recent Annual Report on Form 10-K for the year ended December 31, 2025, and the risks set forth under Part II – Item … |
| USA-INC-ROSENBLATT-SECURITIES-INC |
USA-INC-ROSENBLATT-SECURITIES-INC |
62%
|
Item 2 – Recent Developments – February 2026 Registered Direct Offering ” for further details. In January 2026, we established an at-the-market sales program (the "ATM Program") by entering into a Sa… |
