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International Business Times
International Business Times
Business
Marvie Basilan

Crypto Platform Bakkt Warns Of Cash Crunch, Raises Concerns On Its Existence

Bakkt Crypto United States NYSE
Bakkt, introduced to huge fanfare in 2018, is now unsure if it can keep operating over the next year. (Credit: Bakkt website)

KEY POINTS

  • Bakkt said there is "significant uncertainty" regarding new market expansion plans
  • The crypto platform also said there are "numerous risks" beyond its control
  • Bakkt said it may not be able to continue fulfilling NYSE listing requirements

Bakkt, which was introduced to much hype in 2018, announced it might not be able to continue operations as it believes its existing funds are insufficient to keep the business going over the next 12 months.

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