- Bakkt Holdings is considering a potential sale or breakup amidst an increase in crypto-related acquisition activities.
- The platform has been discussing with an advisor regarding the move, though a final decision is still pending.
- In a recent development, Bakkt partnered with Crossover Markets to power its BakktX.
New York Stock Exchange spin-off Bakkt Holdings is exploring a potential sale or breakup after a period of increased activity in crypto acquisitions. The platform is working with a financial advisor to evaluate its strategic options, though a final decision remains unannounced.
Bakkt’s 2018 launch generated significant buzz, with partnerships announced alongside industry titans Starbucks and Microsoft. However, the company has since faced challenges, including the threat of delisting from the NYSE in 2024 due to financial concerns.
Despite going public in 2021 via a merger with a Special Purpose Acquisition Company (SPAC), Bakkt reported a substantial first-quarter loss of $21 million in 2021, despite generating $885 million in revenue.
In a positive development, Bakkt secured regulatory approval in early 2024 to sell up to $150 million in secu…
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