• Bakkt is a crypto trading and custody platform. In a SEC filing it added a warning about “going concerns” stating that they might not have the cash necessary to stay in business.
  • In 2018, the company was launched with an initial aim to help Starbucks customers purchase coffee using bitcoin.

Bakkt warned that the crypto platform, which was launched amid much fanfare by the owner the New York Stock Exchange in 2018, might not be in business.

The company stated in a filing with the U.S. Securities and Exchange Commission that it might not be able continue as a “going concern”. We do not think that our restricted cash and cash on hand will be enough to cover our operations in the next 12 months.

Bakkt wants to sell securities worth up to $150,000,000, according to Bakkt’s spokesperson. This could help solve the problem.

BTC Price Index and Live Chart – CoinDesk”>(BTC). Future U.S. Senator Kelly Loeffler served as its first CEO. In 2021 it finally launched a virtual wallet, but this was discontinued in the past year. Bakkt has now shifted its focus to crypto trading and custody services.

The Lightning Network is a layer-2 Blockchain where Bitcoin transactions can offloaded to allow for more efficient processing.

Learn more about Bitcoin’s Lightning Network.

Bakkt will go public in 2021. The stock closed at $1.45 on Wednesday, down from $40 in 2021.

UPDATE: (Feb. 8, 20,23, 04.39 UTC) Adds company statement.