yolowire.com – Bakkt Holdings (NYSE: BKKT), the cryptocurrency market launched by the guardian firm of the New York Inventory Change (NYSE), is contemplating a attainable sale.
Based on a number of media studies, Bakkt is working with monetary advisers to discover a number of choices, together with a sale.
Georgia-based Bakkt is a subsidiary of Intercontinental Change Inc. (NYSE:), which additionally owns the New York Inventory Change and a number of other smaller inventory exchanges.
Intercontinental Change launched Bakkt in 2018, and the corporate went public in 2021 by way of a particular goal acquisition firm (SPAC).
Nevertheless, Bakkt's shares have plummeted 92% since its IPO, and the corporate has warned in current months that it could not be capable of proceed its enterprise.
The potential sale of Bakkt, which gives cryptocurrency buying and selling and custody companies, comes amid a wave of consolidation within the sector.
A couple of weeks in the past, RobinhoodMarkets (NASDAQ: HOOD (NASDAQ:)) introduced it was buying cryptocurrency alternate Bitstamp, and cryptocurrency miner RiotPlatforms (NASDAQ: RIOT) proposed to accumulate rival Bitfarms (NASDAQ: BITF).
Bakkt just lately reported a lack of $21 million on income of $855 million for the primary quarter, and administration has hinted in current months at a attainable chapter submitting.
Bakkt's shares have fallen 45% over the previous 12 months and are presently buying and selling at US$18.70 per share.
This content material was initially printed by Yolowire.com.
