Bakkt Holdings, Inc. (Bakkt), a digital asset marketplace, has filed an amended quarterly report for the period ending September 30, 2023. The amendment includes updates to the company's risk factors, particularly concerning its ability to continue as a going concern. Bakkt has expressed substantial doubt about its ability to continue without raising capital due to expected operating losses and cash burn. The company's future success is now dependent on securing additional financing. The report also provides updates on Bakkt's business activities following its acquisition of Bakkt Crypto Solutions, LLC (formerly Apex Crypto LLC), which has expanded its platform capabilities and client partnerships. Bakkt Crypto's proprietary trading platform and relationships with liquidity providers are expected to enhance the range...Show More

Bakkt Holdings, Inc. (Bakkt), a digital asset marketplace, has filed an amended quarterly report for the period ending September 30, 2023. The amendment includes updates to the company's risk factors, particularly concerning its ability to continue as a going concern. Bakkt has expressed substantial doubt about its ability to continue without raising capital due to expected operating losses and cash burn. The company's future success is now dependent on securing additional financing. The report also provides updates on Bakkt's business activities following its acquisition of Bakkt Crypto Solutions, LLC (formerly Apex Crypto LLC), which has expanded its platform capabilities and client partnerships. Bakkt Crypto's proprietary trading platform and relationships with liquidity providers are expected to enhance the range of crypto assets and pricing offered to customers. Bakkt has also delisted a majority of crypto assets previously available on the Bakkt Crypto platform, aligning with regulatory developments and focusing on a client-led growth strategy. The company is actively pursuing opportunities to provide crypto asset trading services internationally, subject to regulatory approvals. Bakkt's insurance coverage includes $230 million for cold and hot storage, with policies expiring in October and November 2024, respectively. The company's future plans involve expanding its B2B2C strategy, leveraging its network of business partnerships, and exploring additional services such as international remittances and loyalty point conversions to crypto assets.