Crypto payments platform Bakkt warns it may not be able to continue business over next 12 months
Bakkt, a platform for crypto payments and digital assets, has filed an amendment to its quarterly report to the Securities and Exchange Commission warning that it may not be able to continue its business over the next 12 months due to changing risk factors in the crypto industry. The company has been experiencing struggles with its crypto business and is seeking ways to raise capital. Bakkt has determined that its future success will depend on its ability to raise capital and is evaluating financing alternatives to meet its cash requirements. Following its SEC filing, Bakkt's stock dropped 7.6% on Wednesday, trading after-hours at $1.34.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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