The report discusses the current spike in acquisition activity in the crypto market. According to the report, Bakkt is in talks with a financial advisor to explore strategic options, including the potential for a breakup. It is emphasized that no final decision has been reached and Bakkt may choose to remain independent.
As of now, Bakkt has not made any public statements regarding the matter. Initially, Bakkt had formed partnerships with well-known brands such as Starbucks and Microsoft. In 2021, the company went public after merging with VPC Impact Acquisition Holdings.
However, in 2024, Bakkt faced the possibility of being delisted from the NYSE after expressing concerns about its ability to continue as a going concern. The company’s management highlighted the need for additional capital to achieve sustainable profitability and generate sufficient cash flow.
