Bakkt Holdings, Inc. (referred to as Bakkt), a digital asset platform, has filed an amended quarterly report for the period ending September 30, 2023. The amendment includes updates to the 'Risk Factors' and 'Other Information' sections, reflecting changes post-acquisition of Bakkt Crypto Solutions, LLC (formerly Apex Crypto LLC). The report emphasizes Bakkt's focus on a B2B2C strategy, offering integrated platforms for crypto trading and custody services. Bakkt's future plans involve expanding to international markets and developing new services, including crypto rewards and international remittances. The company is actively pursuing regulatory approvals to expand its offerings and has recently delisted several crypto assets from its platform in response to regulatory developments. Bakkt's financial statements remain unchanged from the original filing...Show More

Bakkt Holdings, Inc. (referred to as Bakkt), a digital asset platform, has filed an amended quarterly report for the period ending September 30, 2023. The amendment includes updates to the 'Risk Factors' and 'Other Information' sections, reflecting changes post-acquisition of Bakkt Crypto Solutions, LLC (formerly Apex Crypto LLC). The report emphasizes Bakkt's focus on a B2B2C strategy, offering integrated platforms for crypto trading and custody services. Bakkt's future plans involve expanding to international markets and developing new services, including crypto rewards and international remittances. The company is actively pursuing regulatory approvals to expand its offerings and has recently delisted several crypto assets from its platform in response to regulatory developments. Bakkt's financial statements remain unchanged from the original filing, and the company has identified a going concern risk due to its inability to generate sustainable operating profit and sufficient cash flows. Bakkt is seeking additional financing to support operations over the next 12 months. The report also outlines the company's comprehensive policies and procedures for crypto asset services, including custody and listing policies approved by the New York Department of Financial Services (NYDFS). Bakkt maintains $230 million in insurance coverage for its digital asset custody services. The company's securities are listed on the New York Stock Exchange (NYSE), and there is a risk of delisting if the share price does not meet the exchange's requirements.