From Investing.com: 2024-06-10 10:33:07

Cryptocurrency marketplace Bakkt Holdings, founded by the parent company of the New York Stock Exchange, is considering a potential sale. Bakkt has seen its stock drop 92% since going public in 2021 and has raised concerns about its ability to continue operations. The company reported a first-quarter loss of $21 million on $855 million in revenue. Bakkt stock currently trades at $18.70 per share. Multiple reports suggest Bakkt is working with a financial advisor to explore sale options amid industry consolidation. Robinhood Markets is set to acquire Bitstamp, and Riot Platforms has proposed taking over Bitfarms. Bakkt’s potential sale reflects challenges facing the crypto sector.

Read more at Investing.com: Crypto Marketplace Bakkt To Be Sold By Yolowire.com